Brokerages Set South Bow Corporation (NYSE:SOBO) PT at $28.80

Shares of South Bow Corporation (NYSE:SOBO) have been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $28.80.

SOBO has been the topic of a number of recent research reports. CIBC upped their price target on shares of South Bow from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. National Bankshares boosted their target price on shares of South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a report on Friday, August 8th. JPMorgan Chase & Co. restated an “underweight” rating and set a $27.00 target price on shares of South Bow in a research report on Thursday, August 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Friday, August 8th.

South Bow Stock Up 0.8%

SOBO stock opened at $27.72 on Wednesday. The stock has a fifty day moving average of $26.68 and a 200-day moving average of $25.89. South Bow has a fifty-two week low of $21.12 and a fifty-two week high of $28.22. The company has a market capitalization of $5.77 billion and a price-to-earnings ratio of 14.99. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analysts’ expectations of $449.00 million. As a group, equities research analysts predict that South Bow will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. South Bow’s payout ratio is presently 108.11%.

Hedge Funds Weigh In On South Bow

A number of large investors have recently modified their holdings of SOBO. Oppenheimer & Co. Inc. bought a new stake in South Bow during the 1st quarter worth approximately $1,351,000. Scotia Capital Inc. grew its position in shares of South Bow by 1.2% during the 1st quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company’s stock valued at $44,238,000 after purchasing an additional 19,752 shares in the last quarter. Boston Partners bought a new position in shares of South Bow in the first quarter worth $32,840,000. Invesco Ltd. increased its holdings in shares of South Bow by 112.9% in the first quarter. Invesco Ltd. now owns 1,619,641 shares of the company’s stock worth $41,333,000 after purchasing an additional 858,826 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of South Bow in the fourth quarter worth $15,747,000.

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.