South Bow Corporation (NYSE:SOBO) Receives $32.14 Average PT from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have received an average recommendation of “Hold” from the sixteen analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.1429.

A number of analysts recently issued reports on SOBO shares. Scotiabank increased their target price on South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, August 10th. Finally, Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday, May 28th.

Institutional Trading of South Bow

Hedge funds and other institutional investors have recently modified their holdings of the company. Steadtrust LLC lifted its stake in South Bow by 0.9% in the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after acquiring an additional 300 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of South Bow by 10.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after acquiring an additional 344 shares during the period. Quantinno Capital Management LP increased its stake in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of South Bow by 140.5% in the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the period. Finally, apricus wealth LLC raised its holdings in shares of South Bow by 4.1% in the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock valued at $506,000 after purchasing an additional 600 shares during the period.

South Bow Stock Up 1.6%

NYSE:SOBO opened at $37.27 on Wednesday. South Bow has a 1 year low of $25.01 and a 1 year high of $38.94. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 16.86 and a beta of 0.15. The stock has a 50-day moving average price of $36.62 and a two-hundred day moving average price of $34.51.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%.The company had revenue of $546.00 million during the quarter, compared to the consensus estimate of $496.87 million. As a group, equities analysts expect that South Bow will post 1.81 earnings per share for the current year.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. South Bow’s dividend payout ratio is presently 90.50%.

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.