South Bow (NYSE:SOBO) Stock Rating Upgraded by The Goldman Sachs Group

South Bow (NYSE:SOBO) was upgraded by equities researchers at The Goldman Sachs Group to a “strong sell” rating in a report issued on Sunday,Zacks.com reports.

A number of other research analysts also recently weighed in on SOBO. Barclays increased their target price on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Monday, March 9th. Wolfe Research cut South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target for the company. in a research report on Wednesday, January 14th. National Bank Financial upped their price target on South Bow from $29.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Monday, March 16th. Scotiabank upped their price target on South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a research report on Friday, March 6th. Finally, Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $30.38.

South Bow Stock Down 1.9%

SOBO stock opened at $31.47 on Friday. South Bow has a fifty-two week low of $23.96 and a fifty-two week high of $34.90. The business’s 50-day moving average is $32.57 and its two-hundred day moving average is $29.10. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 15.13 and a beta of 0.15.

South Bow (NYSE:SOBO) last posted its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.21. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The company had revenue of $503.00 million for the quarter, compared to the consensus estimate of $500.57 million. During the same quarter in the prior year, the company earned $0.54 earnings per share. South Bow’s revenue was up 3.1% on a year-over-year basis. As a group, analysts forecast that South Bow will post 1.87 earnings per share for the current year.

Institutional Trading of South Bow

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its position in shares of South Bow by 10.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares in the last quarter. Aviso Financial Inc. grew its position in shares of South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares in the last quarter. LPL Financial LLC grew its position in shares of South Bow by 1.6% during the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after purchasing an additional 615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares in the last quarter.

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.