South Bow (NYSE:SOBO) Given New $33.00 Price Target at Barclays

South Bow (NYSE:SOBO) had its target price upped by Barclays from $27.00 to $33.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts also recently issued reports about the company. National Bank Financial lifted their target price on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Wolfe Research cut shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective 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 research 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. According to MarketBeat, South Bow has a consensus rating of “Hold” and an average price target of $30.43.

South Bow Price Performance

Shares of SOBO stock opened at $33.36 on Monday. South Bow has a 52-week low of $21.16 and a 52-week high of $34.01. 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 firm has a market capitalization of $6.95 billion, a P/E ratio of 16.04 and a beta of 0.28. The stock has a 50 day moving average price of $29.07 and a 200 day moving average price of $27.96.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The company had revenue of $503.00 million during the quarter, compared to analysts’ expectations of $500.57 million. South Bow had a return on equity of 15.69% and a net margin of 21.80%.South Bow’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.54 EPS. As a group, sell-side analysts predict that South Bow will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, March 31st. South Bow’s dividend payout ratio is currently 96.15%.

Hedge Funds Weigh In On South Bow

Several institutional investors have recently made changes to their positions in the company. City Holding Co. raised its holdings in shares of South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after acquiring an additional 645 shares in the last quarter. IFP Advisors Inc increased its position in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after purchasing an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $39,000.

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.