South Bow (NYSE:SOBO) Upgraded by Wall Street Zen to Hold Rating

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

Several other equities analysts have also issued reports on SOBO. Scotiabank boosted their price target on South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce raised their price objective on South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Barclays lifted their price objective on South Bow from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Raymond James Financial assumed coverage on South Bow in a research report on Tuesday, June 9th. They set an “outperform” rating on the stock. Finally, National Bank Financial upped their target price on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.57.

South Bow Stock Performance

NYSE SOBO opened at $37.86 on Friday. The company’s fifty day moving average is $36.62 and its two-hundred day moving average is $32.94. South Bow has a 52-week low of $25.01 and a 52-week high of $38.45. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.51 and a quick ratio of 1.37. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 18.65 and a beta of 0.16.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. During the same period in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that South Bow will post 1.77 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. South Bow’s dividend payout ratio is 98.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steadtrust LLC grew its position in South Bow by 0.9% in the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after acquiring an additional 300 shares during the period. Parkside Financial Bank & Trust raised its stake in 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 acquiring an additional 344 shares in the last quarter. Quantinno Capital Management LP lifted its holdings 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 valued at $264,000 after acquiring an additional 478 shares during the period. Parallel Advisors LLC lifted its holdings in shares of 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 acquiring an additional 496 shares during the period. Finally, apricus wealth LLC boosted its stake in shares of South Bow by 4.1% in the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock valued at $506,000 after purchasing an additional 600 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.