South Bow Corporation (NYSE:SOBO) Stock Has Average Price Target of $32.50

Shares of South Bow Corporation (NYSE:SOBO) have earned an average recommendation of “Hold” from the fourteen analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $32.50.

A number of research analysts recently issued reports on SOBO shares. TD Securities reissued a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Raymond James Financial restated an “outperform” rating on shares of South Bow in a research note on Wednesday, October 14th. Weiss Ratings downgraded South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Monday, August 10th.

South Bow Price Performance

Shares of NYSE SOBO opened at $35.96 on Monday. South Bow has a 1 year low of $25.01 and a 1 year high of $39.02. The stock has a market capitalization of $7.50 billion, a P/E ratio of 17.79 and a beta of 0.22. The company’s 50-day moving average is $35.37 and its 200 day moving average is $34.35. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. The business had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. On average, sell-side analysts expect that South Bow will post 1.84 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. South Bow’s dividend payout ratio (DPR) is 90.50%.

Hedge Funds Weigh In On South Bow

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in South Bow in the second quarter worth approximately $17,149,000. Renaissance Technologies LLC purchased a new position in South Bow during the 1st quarter worth $1,162,000. First Trust Advisors LP bought a new stake in South Bow during the 1st quarter valued at $945,000. Bank of America Corp DE raised its position in South Bow by 23.3% during the 1st quarter. Bank of America Corp DE now owns 1,993,768 shares of the company’s stock valued at $66,432,000 after purchasing an additional 376,108 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of South Bow during the 2nd quarter worth $2,601,000.

About South Bow

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.