South Bow Corporation (NYSE:SOBO) Receives $31.57 Consensus PT from Brokerages

South Bow Corporation (NYSE:SOBO) has been assigned an average rating of “Hold” from the sixteen research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.5714.

SOBO has been the topic of a number of recent research reports. Barclays raised their price objective on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce raised their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Scotiabank increased their price target on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, TD Securities reissued a “hold” rating on shares of South Bow in a report on Thursday.

Institutional Investors Weigh In On South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. City Holding Co. lifted its stake in shares of South Bow by 277.4% in the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the period. Parallel Advisors LLC raised its position in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares during the period. IFP Advisors Inc boosted its stake in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of South Bow during the 4th quarter worth about $39,000.

South Bow Trading Down 1.4%

NYSE SOBO opened at $37.31 on Friday. South Bow has a one year low of $25.01 and a one year high of $38.45. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 18.38 and a beta of 0.16. The company’s 50-day simple moving average is $36.66 and its two-hundred day simple moving average is $33.03.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The business had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.South Bow’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 EPS. Equities analysts forecast that South Bow will post 1.77 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. South Bow’s payout ratio is presently 98.52%.

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.