South Bow Corporation (NYSE:SOBO) Receives Average Recommendation of “Hold” from Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.5714.

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Barclays boosted their price target on shares of South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. Scotiabank boosted their price target on shares of South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. National Bank Financial boosted their price target on shares of South Bow from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, March 16th. Finally, Wolfe Research downgraded shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research report on Wednesday, January 14th.

Institutional Trading of South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in SOBO. Norges Bank bought a new stake in shares of South Bow in the 4th quarter worth approximately $24,566,000. Thornburg Investment Management Inc. raised its holdings in shares of South Bow by 41.7% in the 4th quarter. Thornburg Investment Management Inc. now owns 2,829,875 shares of the company’s stock worth $77,840,000 after purchasing an additional 832,574 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of South Bow by 51.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock worth $64,541,000 after purchasing an additional 799,707 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of South Bow by 467.7% in the 3rd quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock worth $27,137,000 after purchasing an additional 790,111 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of South Bow by 485.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after purchasing an additional 650,648 shares in the last quarter.

South Bow Trading Down 0.8%

Shares of NYSE:SOBO opened at $32.39 on Thursday. The company has a market cap of $6.76 billion, a PE ratio of 15.57 and a beta of 0.15. The company’s 50-day moving average price is $32.40 and its 200 day moving average price is $29.02. South Bow has a fifty-two week low of $23.96 and a fifty-two week high of $34.90. The company has a quick ratio of 1.43, a current ratio of 1.50 and a debt-to-equity ratio of 2.13.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The firm had revenue of $503.00 million for the quarter, compared to the consensus estimate of $500.57 million. During the same period last year, the firm posted $0.54 EPS. South Bow’s quarterly revenue was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Tuesday, March 31st. South Bow’s payout ratio is 96.15%.

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.