South Bow Corporation (NYSE:SOBO) Receives $30.86 Average Target Price from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have been given an average recommendation of “Reduce” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $31.5714.

Several research analysts have recently issued reports on SOBO shares. TD Securities reiterated a “hold” rating on shares of South Bow in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Scotiabank raised their target price on shares of South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, April 27th.

South Bow Trading Up 1.8%

South Bow stock opened at $37.39 on Friday. The firm has a 50 day simple moving average of $34.63 and a 200-day simple moving average of $31.05. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37. The stock has a market capitalization of $7.80 billion, a PE ratio of 18.42 and a beta of 0.14. South Bow has a 12-month low of $25.01 and a 12-month high of $38.39.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $491.00 million during the quarter, compared to the consensus estimate of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. As a group, equities research analysts expect that South Bow will post 1.76 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) is presently 98.52%.

Institutional Trading of South Bow

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its holdings in South Bow by 140.5% during the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after buying an additional 496 shares in the last quarter. City Holding Co. boosted its holdings in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after buying an additional 645 shares in the last quarter. IFP Advisors Inc boosted its holdings in South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after buying an additional 1,276 shares in the last quarter.

South Bow Company Profile

South Bow Corp is a strategic liquids pipeline company. It is a new liquids-focused midstream infrastructure company. South Bow Corp is based in Canada.