South Bow (NYSE:SOBO) Price Target Raised to $35.00

South Bow (NYSE:SOBO) had its target price raised by research analysts at National Bank Financial from $31.00 to $35.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s target price would suggest a potential downside of 3.25% from the company’s previous close.

Several other research firms have also recently weighed in on SOBO. Jefferies Financial Group reiterated a “buy” rating on shares of South Bow in a research note on Thursday. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce increased their target price on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Wall Street Zen cut shares of South Bow from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research note on Monday, April 27th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $31.57.

South Bow Stock Performance

Shares of NYSE:SOBO traded up $0.21 during midday trading on Monday, hitting $36.17. The company’s stock had a trading volume of 226,070 shares, compared to its average volume of 965,638. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 17.85 and a beta of 0.14. The stock’s 50 day simple moving average is $34.38 and its 200 day simple moving average is $30.76. South Bow has a fifty-two week low of $25.01 and a fifty-two week high of $38.39. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) 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 analyst estimates of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, research analysts anticipate that South Bow will post 1.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after acquiring an additional 496 shares during the last quarter. City Holding Co. boosted its position in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc boosted its position 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 valued at $34,000 after acquiring an additional 1,069 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $35,000 after acquiring an additional 1,276 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.