South Bow Corporation (NYSE:SOBO) Given Average Recommendation of “Hold” by Analysts

Shares of South Bow Corporation (NYSE:SOBO) have been assigned an average rating of “Hold” from the thirteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $30.5714.

Several analysts recently weighed in on SOBO shares. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective for the company. in a report on Wednesday, January 14th. National Bank Financial raised their price objective on South Bow from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, March 16th. Barclays raised their price objective on South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. Finally, Scotiabank lifted their target price on South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th.

Institutional Investors Weigh In On South Bow

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust increased its holdings in shares of South Bow by 10.0% during 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 in the last quarter. Aviso Financial Inc. boosted its position in South Bow by 8.2% in the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP boosted its position in South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the last quarter. LPL Financial LLC raised its stake in shares of South Bow by 1.6% in the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock valued at $1,058,000 after buying an additional 615 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares during the period.

South Bow Stock Performance

SOBO opened at $33.46 on Thursday. The firm has a market cap of $6.97 billion, a P/E ratio of 16.09 and a beta of 0.15. South Bow has a 52-week low of $21.16 and a 52-week high of $34.90. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The business’s fifty day moving average is $31.96 and its 200-day moving average is $28.86.

South Bow (NYSE:SOBO) last released 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. The company had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. South Bow had a return on equity of 15.55% and a net margin of 21.80%.South Bow’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Sell-side analysts expect that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. South Bow’s payout ratio is currently 96.15%.

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.