South Bow Corporation (NYSE:SOBO) Receives Consensus Recommendation of “Hold” from Analysts

South Bow Corporation (NYSE:SOBO) has received a consensus rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $29.50.

Several brokerages have weighed in on SOBO. Morgan Stanley reaffirmed an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. UBS Group initiated coverage on shares of South Bow in a research report on Thursday, December 11th. They set a “neutral” rating for the company. Scotiabank lifted their target price on shares of South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of South Bow in a research note on Monday, December 29th. Finally, CIBC lifted their price objective on South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th.

South Bow Price Performance

SOBO stock opened at $27.85 on Tuesday. South Bow has a 52-week low of $21.16 and a 52-week high of $29.19. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 17.51 and a beta of 0.47. The business has a fifty day moving average of $27.14 and a two-hundred day moving average of $27.11.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.47 EPS 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 analyst estimates of $498.00 million. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The company’s revenue for the quarter was down 13.7% on a year-over-year basis. As a group, research analysts anticipate 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Wednesday, December 31st. South Bow’s payout ratio is currently 125.79%.

Institutional Trading of South Bow

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares in the last quarter. IFP Advisors Inc lifted its holdings in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of South Bow by 150.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company’s stock worth $40,000 after acquiring an additional 930 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of South Bow during the third quarter worth $66,000.

About South Bow

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.