Brokerages Set South Bow Co. (NYSE:SOBO) Price Target at $26.25

Shares of South Bow Co. (NYSE:SOBO) have received an average rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.60.

Several equities analysts recently commented on SOBO shares. Scotiabank increased their target price on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Wolfe Research downgraded South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. National Bankshares boosted their target price on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. began coverage on South Bow in a report on Friday, March 28th. They issued a “neutral” rating and a $28.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $38.00 price target on shares of South Bow in a research note on Monday.

Hedge Funds Weigh In On South Bow

A number of hedge funds have recently modified their holdings of the business. Mutual Advisors LLC purchased a new stake in South Bow in the 4th quarter valued at $517,000. Rhumbline Advisers acquired a new position in South Bow in the fourth quarter valued at $34,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow in the fourth quarter valued at about $6,787,000. US Bancorp DE acquired a new stake in shares of South Bow during the fourth quarter worth about $373,000. Finally, Assetmark Inc. acquired a new stake in shares of South Bow during the fourth quarter worth about $33,000.

South Bow Stock Performance

SOBO stock opened at $25.81 on Monday. The company’s 50 day moving average price is $25.00 and its 200 day moving average price is $24.77. The firm has a market capitalization of $5.37 billion and a price-to-earnings ratio of 13.95. South Bow has a fifty-two week low of $21.16 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analyst estimates of $527.00 million. The company’s revenue was down 8.5% on a year-over-year basis. Equities analysts forecast that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend is Monday, June 30th. South Bow’s dividend payout ratio is currently 108.11%.

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.