South Bow Corporation (NYSE:SOBO) Receives Consensus Rating of “Hold” from Analysts

South Bow Corporation (NYSE:SOBO) has been assigned a consensus rating of “Hold” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $33.00.

SOBO has been the subject of a number of analyst reports. Scotiabank lifted their price objective on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Monday, August 10th. Barclays raised their price objective on shares of South Bow from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce boosted their target price on South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th.

Institutional Trading of South Bow

Several large investors have recently made changes to their positions in SOBO. Steadtrust LLC raised its holdings in shares of South Bow by 0.9% in the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after buying an additional 300 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in South Bow by 10.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after acquiring an additional 344 shares during the last quarter. Quantinno Capital Management LP increased its position in South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after acquiring an additional 478 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares during the last quarter. Finally, apricus wealth LLC lifted its position in shares of South Bow by 4.1% during the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after purchasing an additional 600 shares in the last quarter.

South Bow Price Performance

Shares of SOBO stock opened at $37.11 on Friday. South Bow has a 12 month low of $25.01 and a 12 month high of $39.02. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The stock has a 50 day moving average of $36.84 and a two-hundred day moving average of $35.25. The company has a market capitalization of $7.74 billion, a P/E ratio of 16.79 and a beta of 0.14.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The firm had revenue of $546.00 million for the quarter, compared to analyst estimates of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. As a group, equities analysts expect that South Bow will post 1.87 EPS for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. South Bow’s payout ratio is currently 90.50%.

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.