South Bow Corporation (NYSE:SOBO) Receives Average Rating of “Reduce” from Analysts

South Bow Corporation (NYSE:SOBO) has been given an average recommendation of “Reduce” by the fifteen brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $30.8571.

A number of analysts recently weighed in on the company. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Barclays increased their price objective on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. The Goldman Sachs Group assumed coverage on South Bow in a report on Monday, April 20th. They issued a “sell” rating and a $29.00 price objective for the company. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, April 27th. Finally, Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday.

Institutional Trading of South Bow

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Intact Investment Management Inc. grew its holdings in South Bow by 19.6% during the 4th quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock worth $26,522,000 after acquiring an additional 158,100 shares during the period. JPMorgan Chase & Co. grew its holdings in South Bow by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock worth $3,366,000 after acquiring an additional 79,858 shares during the period. TD Waterhouse Canada Inc. grew its holdings in South Bow by 7.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock worth $36,700,000 after acquiring an additional 93,805 shares during the period. Cibc World Market Inc. grew its holdings in South Bow by 1.5% during the 3rd quarter. Cibc World Market Inc. now owns 3,194,578 shares of the company’s stock worth $90,375,000 after acquiring an additional 47,562 shares during the period. Finally, Thornburg Investment Management Inc. grew its holdings in South Bow by 20.6% during the 3rd quarter. Thornburg Investment Management Inc. now owns 1,997,301 shares of the company’s stock worth $56,504,000 after acquiring an additional 341,281 shares during the period.

South Bow Stock Down 0.7%

Shares of SOBO opened at $37.08 on Friday. South Bow has a 52 week low of $25.01 and a 52 week high of $38.39. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 18.26 and a beta of 0.11. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The stock has a fifty day moving average of $34.33 and a 200-day moving average of $30.70.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). South Bow had a net margin of 21.32% and a return on equity of 15.24%. The firm had revenue of $491.00 million during the quarter, compared to the consensus estimate of $491.21 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, sell-side analysts anticipate that South Bow will post 1.75 earnings per share for the current fiscal year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Tuesday, June 30th. South Bow’s dividend payout ratio is presently 98.52%.

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.