South Bow (NYSE:SOBO) Price Target Raised to $30.00 at National Bank Financial

South Bow (NYSE:SOBO) had its target price boosted by equities research analysts at National Bank Financial from $29.00 to $30.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s price target suggests a potential downside of 11.41% from the company’s current price.

Other analysts have also issued research reports about the company. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, November 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, November 17th. Barclays lifted their price objective on South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a report on Monday, March 9th. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price for the company. in a research report on Wednesday, January 14th. Finally, Weiss Ratings upgraded shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, South Bow currently has a consensus rating of “Hold” and an average price target of $30.57.

South Bow Stock Up 1.1%

Shares of NYSE:SOBO traded up $0.38 during trading on Monday, reaching $33.87. 357,538 shares of the stock traded hands, compared to its average volume of 968,135. The stock has a market cap of $7.05 billion, a P/E ratio of 16.28 and a beta of 0.28. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The stock has a 50-day moving average of $29.51 and a two-hundred day moving average of $28.13. South Bow has a 52-week low of $21.16 and a 52-week high of $34.01.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. The company had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts expect that South Bow will post 1.74 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in South Bow by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares during the last quarter. Aviso Financial Inc. increased its position in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP lifted its stake in shares of South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the period. LPL Financial LLC lifted its stake in shares of South Bow by 1.6% in the 4th quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after purchasing an additional 615 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of South Bow by 157.3% in 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 during the last quarter.

About South Bow

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.