Brokerages Set South Bow Corporation (NYSE:SOBO) PT at $29.20

South Bow Corporation (NYSE:SOBO) has received a consensus recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $29.20.

SOBO has been the subject of a number of analyst reports. National Bankshares upped their price objective 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. CIBC upped their price objective on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of South Bow in a report on Wednesday, October 8th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $27.00 target price on shares of South Bow in a research report on Thursday, August 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Friday, August 8th.

South Bow Trading Down 1.0%

Shares of SOBO opened at $26.22 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19. South Bow has a 12-month low of $21.16 and a 12-month high of $29.19. The firm has a 50-day moving average price of $27.79 and a 200 day moving average price of $26.41. The firm has a market capitalization of $5.46 billion and a P/E ratio of 14.17.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $524.00 million during the quarter, compared to analysts’ expectations of $449.00 million. Sell-side analysts forecast that South Bow will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 7.6%. South Bow’s dividend payout ratio is presently 108.11%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SOBO. Goldman Sachs Group Inc. lifted its position in South Bow by 157.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after buying an additional 10,510,206 shares during the last quarter. Murchinson Ltd. acquired a new stake in shares of South Bow during the first quarter worth about $134,592,000. Bank of Nova Scotia lifted its position in shares of South Bow by 196.7% during the first quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company’s stock worth $56,039,000 after purchasing an additional 1,454,084 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of South Bow by 650.4% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company’s stock worth $39,541,000 after purchasing an additional 1,322,729 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of South Bow during the first quarter worth about $32,840,000.

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.