South Bow (NYSE:SOBO) Research Coverage Started at Barclays

Barclays started coverage on shares of South Bow (NYSE:SOBO) in a research report report published on Monday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $27.00 target price on the stock.

A number of other research firms have also issued reports on SOBO. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Morgan Stanley reaffirmed an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Scotiabank upped their price target on South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Monday, October 20th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Finally, CIBC raised their price objective on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $29.00.

South Bow Stock Performance

NYSE SOBO opened at $27.17 on Monday. The firm has a market cap of $5.66 billion, a P/E ratio of 17.09 and a beta of 0.48. 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 company’s 50 day moving average is $26.95 and its 200-day moving average is $26.96. South Bow has a 12-month low of $21.16 and a 12-month high of $29.19.

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

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.4%. South Bow’s dividend payout ratio is presently 125.79%.

Hedge Funds Weigh In On South Bow

Large investors have recently modified their holdings of the company. Cetera Investment Advisers boosted its stake in South Bow by 15.0% in the first quarter. Cetera Investment Advisers now owns 11,248 shares of the company’s stock worth $287,000 after buying an additional 1,466 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of South Bow by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company’s stock valued at $227,531,000 after purchasing an additional 157,355 shares in the last quarter. Invesco Ltd. grew its holdings in shares of South Bow by 112.9% during the 1st quarter. Invesco Ltd. now owns 1,619,641 shares of the company’s stock valued at $41,333,000 after purchasing an additional 858,826 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of South Bow during the 1st quarter valued at $292,000. Finally, Nuveen LLC bought a new stake in South Bow in the first quarter worth $4,619,000.

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.