Brokerages Set South Bow Corporation (NYSE:SOBO) Price Target at $30.43

South Bow Corporation (NYSE:SOBO) has been given a consensus recommendation of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $30.5714.

A number of research analysts have recently issued reports on SOBO shares. UBS Group initiated coverage on South Bow in a report on Thursday, December 11th. They issued a “neutral” rating on the stock. Barclays lifted their price objective on shares of South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Morgan Stanley reissued an “underweight” rating on shares of South Bow in a research note 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 target price for the company. in a research note on Wednesday, January 14th. Finally, Scotiabank boosted their price target on shares of South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Friday, March 6th.

Hedge Funds Weigh In On South Bow

Several institutional investors and hedge funds have recently added to or reduced their stakes in SOBO. Capital International Investors lifted its holdings in shares of South Bow by 0.6% in the 4th quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock valued at $425,840,000 after buying an additional 94,772 shares during the period. Vanguard Group Inc. grew its holdings in South Bow by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock worth $238,387,000 after acquiring an additional 118,147 shares during the period. Clearbridge Investments LLC grew its holdings in South Bow by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock worth $199,514,000 after acquiring an additional 209,864 shares during the period. Cibc World Market Inc. raised its position in South Bow by 11.8% in the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after acquiring an additional 376,514 shares in the last quarter. Finally, Thornburg Investment Management Inc. raised its position in South Bow by 41.7% in the fourth quarter. Thornburg Investment Management Inc. now owns 2,829,875 shares of the company’s stock worth $77,840,000 after acquiring an additional 832,574 shares in the last quarter.

South Bow Stock Performance

NYSE SOBO opened at $33.73 on Friday. The firm has a market cap of $7.03 billion, a P/E ratio of 16.22 and a beta of 0.28. South Bow has a 52-week low of $21.16 and a 52-week high of $34.24. The business’s 50-day moving average price is $29.79 and its 200 day moving average price is $28.22. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.40 by $0.21. South Bow had a return on equity of 15.69% and a net margin of 21.80%.The firm had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. During the same period in the prior year, the business earned $0.54 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts expect that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Tuesday, March 31st. South Bow’s payout ratio is currently 96.15%.

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.