Analysts Set South Bow Corporation (NYSE:SOBO) PT at $31.57

Shares of South Bow Corporation (NYSE:SOBO) have been given an average rating of “Hold” by the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $31.5714.

Several brokerages recently issued reports on SOBO. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, April 27th. National Bank Financial raised their price target on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Jefferies Financial Group reissued a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Raymond James Financial began coverage on South Bow in a report on Tuesday, June 9th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, May 11th.

South Bow Price Performance

Shares of SOBO opened at $35.87 on Tuesday. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 17.67 and a beta of 0.14. South Bow has a 52 week low of $25.01 and a 52 week high of $38.45. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The stock has a 50 day moving average of $35.75 and a 200-day moving average of $32.15.

South Bow (NYSE:SOBO) last announced its quarterly earnings results 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 return on equity of 15.24% and a net margin of 21.32%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. As a group, analysts forecast that South Bow will post 1.77 EPS for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.6%. South Bow’s dividend payout ratio (DPR) is 98.52%.

Institutional Trading of South Bow

Several hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after acquiring an additional 496 shares in the last quarter. Bank of America Corp DE raised its stake in South Bow by 23.3% during the 1st quarter. Bank of America Corp DE now owns 1,993,768 shares of the company’s stock valued at $66,432,000 after acquiring an additional 376,108 shares in the last quarter. Amundi bought a new stake in South Bow during the 1st quarter valued at $297,000. EverSource Wealth Advisors LLC raised its stake in South Bow by 78.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after acquiring an additional 831 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in South Bow during the 1st quarter valued at $2,138,000.

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.