South Bow (NYSE:SOBO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of South Bow (NYSE:SOBO) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

SOBO has been the subject of a number of other reports. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Scotiabank upped their price target on South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Raymond James Financial initiated coverage on South Bow in a research report on Tuesday, June 9th. They set an “outperform” rating for the company. National Bank Financial raised their price objective on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $31.57.

South Bow Price Performance

Shares of South Bow stock opened at $37.31 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The company’s 50-day moving average price is $36.66 and its two-hundred day moving average price is $33.03. South Bow has a 52 week low of $25.01 and a 52 week high of $38.45. The stock has a market cap of $7.78 billion, a PE ratio of 18.38 and a beta of 0.16.

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

South Bow Announces Dividend

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

Institutional Investors Weigh In On South Bow

Several hedge funds have recently made changes to their positions in the company. City Holding Co. boosted its position in shares of South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 735 shares during the period. Parallel Advisors LLC raised its position in South Bow by 140.5% during the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after buying an additional 496 shares during the period. IFP Advisors Inc raised its position in South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in South Bow by 1,993.8% in 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 South Bow in the 4th quarter worth about $39,000.

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.