South Bow Corporation (NYSE:SOBO) Given Average Recommendation of “Hold” by Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $32.00.

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “buy (b+)” rating on shares of South Bow in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce increased their target price 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. The Goldman Sachs Group started coverage on South Bow in a research note on Monday, April 20th. They issued a “sell” rating and a $29.00 target price on the stock. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Finally, Scotiabank upped their price target on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday.

Hedge Funds Weigh In On South Bow

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

South Bow Stock Up 2.6%

Shares of South Bow stock opened at $38.47 on Friday. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. South Bow has a 52-week low of $25.01 and a 52-week high of $38.59. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 18.95 and a beta of 0.16. The company’s 50 day moving average price is $36.73 and its 200-day moving average price is $33.18.

South Bow (NYSE:SOBO) last posted 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). The firm had revenue of $491.00 million for the quarter, compared to the consensus estimate of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Equities research analysts forecast that South Bow will post 1.77 EPS for the current year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date was Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) is currently 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.