South Bow Corporation (NYSE:SOBO) Given Average Recommendation of “Reduce” by Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have been assigned a consensus recommendation of “Reduce” from the thirteen research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $29.00.

Several analysts have weighed in on SOBO shares. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of South Bow in a research report on Monday, December 29th. Scotiabank reissued a “sector perform” rating and set a $30.00 price target on shares of South Bow in a research report on Friday, January 16th. National Bank Financial upped their price objective on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Finally, Wolfe Research lowered shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research note on Wednesday, January 14th.

South Bow Price Performance

Shares of SOBO opened at $29.83 on Wednesday. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. The company’s fifty day moving average price is $27.82 and its 200-day moving average price is $27.48. South Bow has a 1-year low of $21.16 and a 1-year high of $30.53. The firm has a market capitalization of $6.21 billion, a PE ratio of 18.76 and a beta of 0.47.

Institutional Trading of South Bow

A number of hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust lifted its holdings in South Bow by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after acquiring an additional 344 shares during the period. Aviso Financial Inc. lifted its stake in shares of South Bow by 8.2% in the 3rd 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 period. Quantinno Capital Management LP boosted its holdings in South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after buying an additional 478 shares in the last quarter. LPL Financial LLC boosted its holdings in South Bow by 1.6% during the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after buying an additional 615 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in South Bow by 4.4% during the second 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 during the period.

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.