South Bow Corporation (NYSE:SOBO) Given Consensus Rating of “Reduce” by Analysts

South Bow Corporation (NYSE:SOBO) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.00.

SOBO has been the subject of a number of recent research reports. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Wolfe Research cut shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Wednesday, January 14th. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, November 17th.

South Bow Trading Down 0.6%

Shares of South Bow stock opened at $28.04 on Friday. South Bow has a twelve month low of $21.16 and a twelve month high of $29.19. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The business has a 50-day moving average price of $27.30 and a 200-day moving average price of $27.20. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 17.63 and a beta of 0.47.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The company had revenue of $461.00 million during the quarter, compared to analyst estimates of $498.00 million. South Bow’s revenue was down 13.7% on a year-over-year basis. Equities research analysts anticipate that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.1%. The ex-dividend date was Wednesday, December 31st. South Bow’s dividend payout ratio is presently 125.79%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in shares of South Bow in the second quarter worth about $1,573,000. Westwood Holdings Group Inc. grew its stake in South Bow by 15.0% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,109,346 shares of the company’s stock worth $28,743,000 after acquiring an additional 145,037 shares in the last quarter. Boston Partners increased its position in shares of South Bow by 16.4% during the second quarter. Boston Partners now owns 1,507,499 shares of the company’s stock worth $39,216,000 after acquiring an additional 212,768 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of South Bow during the second quarter valued at approximately $457,000. Finally, Scotia Capital Inc. boosted its holdings in shares of South Bow by 1.7% in the second quarter. Scotia Capital Inc. now owns 1,764,327 shares of the company’s stock valued at $45,472,000 after purchasing an additional 29,390 shares during the period.

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.