South Bow Corporation (NYSE:SOBO) Given Average Rating of “Hold” by Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $33.00.

Several brokerages recently weighed in on SOBO. Wall Street Zen upgraded shares of South Bow from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings raised South Bow from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday, August 6th. Barclays boosted their target price on South Bow from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, August 10th. Finally, National Bank Financial increased their price objective on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st.

South Bow Price Performance

South Bow stock opened at $37.11 on Friday. The business’s 50-day simple moving average is $36.84 and its 200 day simple moving average is $35.25. 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 has a market cap of $7.74 billion, a price-to-earnings ratio of 16.79 and a beta of 0.14. South Bow has a 12-month low of $25.01 and a 12-month high of $39.02.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $546.00 million during the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. As a group, research analysts anticipate that South Bow will post 1.87 earnings per share for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders 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 5.4%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s payout ratio is currently 90.50%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SOBO. Cubist Systematic Strategies LLC acquired a new stake in South Bow in the 1st quarter valued at $85,000. Amundi acquired a new stake in shares of South Bow in the first quarter valued at about $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in South Bow by 17.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company’s stock worth $5,079,000 after acquiring an additional 29,542 shares in the last quarter. Acadian Asset Management LLC bought a new stake in South Bow during the first quarter worth about $885,000. Finally, Geode Capital Management LLC boosted its position in South Bow by 7.5% during the second quarter. Geode Capital Management LLC now owns 172,491 shares of the company’s stock valued at $4,499,000 after purchasing an additional 11,984 shares during 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.