National Bank Financial Issues Positive Forecast for South Bow (NYSE:SOBO) Stock Price

South Bow (NYSE:SOBO) had its price objective upped by National Bank Financial from $29.00 to $30.00 in a report released on Monday,BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Wolfe Research cut shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research note on Wednesday, January 14th. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Finally, Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, South Bow presently has a consensus rating of “Hold” and a consensus price target of $30.57.

South Bow Stock Up 1.4%

Shares of NYSE SOBO opened at $33.95 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The company has a market cap of $7.07 billion, a price-to-earnings ratio of 16.32 and a beta of 0.28. South Bow has a 12 month low of $21.16 and a 12 month high of $34.01. The stock has a 50-day moving average price of $29.65 and a two-hundred day moving average price of $28.18.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The firm had revenue of $503.00 million during the quarter, compared to analysts’ expectations of $500.57 million. During the same quarter in the prior year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, analysts forecast that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.9%. South Bow’s dividend payout ratio (DPR) is currently 96.15%.

Hedge Funds Weigh In On South Bow

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new stake in South Bow in the second quarter valued at $1,573,000. Westwood Holdings Group Inc. raised its position in South Bow by 15.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,109,346 shares of the company’s stock worth $28,743,000 after purchasing an additional 145,037 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new position in South Bow during the 2nd quarter worth about $457,000. Scotia Capital Inc. lifted its holdings in South Bow by 1.7% during the 2nd quarter. Scotia Capital Inc. now owns 1,764,327 shares of the company’s stock worth $45,472,000 after buying an additional 29,390 shares during the period. Finally, Cibc World Market Inc. grew its position in shares of South Bow by 1.5% in the 3rd quarter. Cibc World Market Inc. now owns 3,194,578 shares of the company’s stock valued at $90,375,000 after buying an additional 47,562 shares during the last quarter.

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.