South Bow (NYSE:SOBO) Upgraded to Hold 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 note released on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on SOBO. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Raymond James Financial began coverage on shares of South Bow in a research note on Tuesday, June 9th. They set an “outperform” rating on the stock. Scotiabank boosted their target price on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

South Bow Stock Up 0.9%

Shares of NYSE SOBO opened at $33.83 on Friday. The stock has a fifty day moving average price of $36.26 and a 200 day moving average price of $35.65. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. South Bow has a 12-month low of $25.01 and a 12-month high of $39.02. The company has a market cap of $7.06 billion, a P/E ratio of 15.31 and a beta of 0.22.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%.The company had revenue of $546.00 million for the quarter, compared to analysts’ expectations of $496.87 million. Research analysts anticipate that South Bow will post 1.88 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s dividend payout ratio is presently 90.50%.

Institutional Trading of South Bow

A number of hedge funds have recently made changes to their positions in SOBO. Engineers Gate Manager LP grew its holdings in South Bow by 10.5% during the 2nd quarter. Engineers Gate Manager LP now owns 15,391 shares of the company’s stock worth $542,000 after acquiring an additional 1,458 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of South Bow in the 2nd quarter worth about $81,000. Squarepoint Ops LLC raised its stake in shares of South Bow by 21.4% in the 2nd quarter. Squarepoint Ops LLC now owns 23,269 shares of the company’s stock valued at $820,000 after purchasing an additional 4,106 shares in the last quarter. Spark Investment Management LLC bought a new position in shares of South Bow during the second quarter worth about $598,000. Finally, Nykredit A S bought a new stake in South Bow in the second quarter valued at about $137,000.

South Bow Company Profile

South Bow Corp. (NYSE: SOBO) is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy’s liquids pipelines business, which was completed in 2024.