South Bow (NYSE:SOBO) Stock Rating Upgraded by Wall Street Zen

South Bow (NYSE:SOBO) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other brokerages also recently commented on SOBO. Barclays upped their price objective on shares of South Bow from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Canadian Imperial Bank of Commerce increased their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of South Bow in a report on Thursday, June 11th. Scotiabank boosted their target price on South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $31.57.

South Bow Trading Up 0.7%

NYSE:SOBO opened at $37.86 on Friday. The firm has a market cap of $7.90 billion, a P/E ratio of 18.65 and a beta of 0.16. The company has a current ratio of 1.51, a quick ratio of 1.37 and a debt-to-equity ratio of 2.16. The stock’s 50 day simple moving average is $36.62 and its 200-day simple moving average is $32.94. South Bow has a 12-month low of $25.01 and a 12-month high of $38.45.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company had revenue of $491.00 million for the quarter, compared to analyst estimates of $491.21 million. During the same period in the prior year, the business earned $0.47 earnings per share. South Bow’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that South Bow will post 1.77 EPS for the current year.

Institutional Trading of South Bow

Institutional investors and hedge funds have recently modified their holdings of the business. City Holding Co. grew its position in shares of South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the last quarter. Parallel Advisors LLC raised its position in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the last quarter. IFP Advisors Inc raised its position in shares of 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 purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in South Bow during the 4th quarter valued at $39,000.

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.