South Bow (NYSE:SOBO) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of South Bow (NYSE:SOBO) in a research note released on Monday, Marketbeat reports. The firm issued an equal weight rating and a $27.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, December 2nd. Finally, Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $29.00.

South Bow Stock Down 1.3%

NYSE SOBO opened at $27.38 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow has a 52 week low of $21.16 and a 52 week high of $29.19. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 17.22 and a beta of 0.47. The company has a fifty day moving average of $26.98 and a two-hundred day moving average of $26.95.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The business had revenue of $461.00 million for the quarter, compared to the consensus estimate of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. On average, analysts predict that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.3%. South Bow’s payout ratio is 125.79%.

Hedge Funds Weigh In On South Bow

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after acquiring an additional 1,069 shares in the last quarter. Swiss Life Asset Management Ltd bought a new position in South Bow during the 3rd quarter worth about $273,000. Advisory Services Network LLC purchased a new position in South Bow during the 3rd quarter valued at about $66,000. Verition Fund Management LLC bought a new stake in shares of South Bow in the 3rd quarter valued at about $213,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of South Bow by 485.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after purchasing an additional 650,648 shares during the period.

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.