South Bow Corporation (NYSE:SOBO) Receives Average Recommendation of “Reduce” from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have received an average rating of “Reduce” from the thirteen research firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $29.00.

SOBO has been the topic of several research reports. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Barclays began coverage on shares of South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. CIBC lifted their price target on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, National Bankshares increased their price objective on shares of South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th.

South Bow Price Performance

NYSE SOBO opened at $27.65 on Friday. 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 stock has a market cap of $5.76 billion, a price-to-earnings ratio of 17.39 and a beta of 0.47. The business has a 50 day simple moving average of $27.30 and a 200 day simple moving average of $27.15. South Bow has a 52-week low of $21.16 and a 52-week high of $29.19.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $461.00 million during the quarter, compared to analysts’ expectations of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Analysts anticipate that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 7.2%. South Bow’s dividend payout ratio is 125.79%.

Institutional Trading of South Bow

A number of large investors have recently added to or reduced their stakes in the company. Aviso Financial Inc. grew its position in shares of South Bow by 8.2% in the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP boosted its stake in South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after purchasing an additional 478 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in South Bow by 4.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after buying an additional 616 shares in the last quarter. EverSource Wealth Advisors LLC increased its position 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 buying an additional 645 shares during the period. Finally, City Holding Co. increased its position in South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 735 shares during the period.

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.