South Bow (NYSE:SOBO) Stock Rating Raised to Strong-Buy at TD Securities

South Bow (NYSE:SOBO) was upgraded by investment analysts at TD Securities from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

A number of other research analysts also recently issued reports on SOBO. Raymond James Financial restated an “outperform” rating on shares of South Bow in a research note on Wednesday, October 14th. Scotiabank increased their price target on shares of South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Canadian Imperial Bank of Commerce reduced their price target on shares of South Bow from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Barclays raised their price objective on shares of South Bow from $33.00 to $34.00 and gave the stock an “underweight” rating in a report on Thursday, November 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.67.

South Bow Price Performance

Shares of NYSE SOBO opened at $32.24 on Monday. The company has a market capitalization of $6.73 billion, a PE ratio of 16.86 and a beta of 0.17. The company has a quick ratio of 1.44, a current ratio of 1.52 and a debt-to-equity ratio of 2.15. The stock’s 50 day moving average price is $34.86 and its 200-day moving average price is $34.55. South Bow has a twelve month low of $25.87 and a twelve month high of $39.02.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. South Bow had a return on equity of 15.76% and a net margin of 22.81%. The business had revenue of $503.00 million for the quarter, compared to analyst estimates of $476.02 million. On average, equities analysts anticipate that South Bow will post 1.83 EPS for the current year.

Institutional Investors Weigh In On South Bow

Several large investors have recently added to or reduced their stakes in SOBO. BlackRock Inc. bought a new position in shares of South Bow in the second quarter worth $17,149,000. Renaissance Technologies LLC purchased a new position in shares of South Bow in the first quarter valued at $1,162,000. First Trust Advisors LP purchased a new position in shares of South Bow in the first quarter valued at $945,000. Bank of America Corp DE raised its stake in shares of 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of South Bow during the 2nd quarter valued at $2,601,000.

About South Bow

South Bow is a North American energy infrastructure company focused on transporting and storing crude oil. Its pipeline network connects production areas in Western Canada with refineries and other markets in Canada and the United States.

The company’s assets include the Keystone Pipeline System, which carries crude from Alberta to destinations in the U.S. Midwest and Gulf Coast, along with other liquids pipeline infrastructure in Canada. South Bow was established as an independent company through the separation of TC Energy’s liquids pipelines business in October 2024.

South Bow is headquartered in Calgary, Alberta.