South Bow (NYSE:SOBO) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of South Bow (NYSE:SOBO) in a research note issued to investors on Sunday, Marketbeat reports. The brokerage issued a sell rating and a $29.00 target price on the stock.

Other equities analysts have also issued research reports about the company. National Bank Financial increased their target price on South Bow from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Monday, March 16th. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research report on Wednesday, January 14th. Barclays increased their price target on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a research report on Monday, March 9th. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Scotiabank increased their price target on South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a research report on Friday, March 6th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $30.38.

South Bow Price Performance

SOBO opened at $31.31 on Friday. The stock’s 50-day moving average price is $32.61 and its 200 day moving average price is $29.12. South Bow has a 12-month low of $24.10 and a 12-month high of $34.90. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.13. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of 15.05 and a beta of 0.15.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.21. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The firm had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. During the same quarter in the prior year, the company earned $0.54 EPS. South Bow’s revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that South Bow will post 1.87 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a $0.50 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.4%. South Bow’s dividend payout ratio is presently 96.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SOBO. Cubist Systematic Strategies LLC purchased a new position in shares of South Bow in the 1st quarter valued at about $85,000. Amundi purchased a new position in South Bow during the 1st quarter worth approximately $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in South Bow by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company’s stock worth $5,079,000 after buying an additional 29,542 shares during the last quarter. Acadian Asset Management LLC acquired a new position in South Bow during the first quarter worth approximately $885,000. Finally, Geode Capital Management LLC lifted its stake in South Bow by 7.5% in the second quarter. Geode Capital Management LLC now owns 172,491 shares of the company’s stock valued at $4,499,000 after buying an additional 11,984 shares during the last quarter.

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.