South Bow Corporation (NYSE:SOBO) Receives $28.60 Consensus Target Price from Analysts

South Bow Corporation (NYSE:SOBOGet Free Report) has earned an average rating of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $28.60.

Several equities research analysts recently weighed in on SOBO shares. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $38.00 price objective on shares of South Bow in a research note on Monday, May 19th. National Bankshares boosted their price objective on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. JPMorgan Chase & Co. assumed coverage on shares of South Bow in a research note on Friday, March 28th. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, CIBC lowered shares of South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Friday, March 7th.

Get Our Latest Analysis on SOBO

South Bow Stock Down 1.0%

SOBO stock opened at $26.73 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. South Bow has a 1 year low of $21.16 and a 1 year high of $27.60. The company has a fifty day simple moving average of $25.43 and a 200 day simple moving average of $24.94. The firm has a market cap of $5.57 billion and a PE ratio of 14.45.

South Bow (NYSE:SOBOGet Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million during the quarter, compared to analyst estimates of $527.00 million. The firm’s quarterly revenue was down 8.5% compared to the same quarter last year. Sell-side analysts anticipate that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.48%. South Bow’s dividend payout ratio (DPR) is presently 108.11%.

Hedge Funds Weigh In On South Bow

Several large investors have recently bought and sold shares of SOBO. FMR LLC acquired a new position in shares of South Bow during the fourth quarter valued at about $461,249,000. Capital International Investors acquired a new position in shares of South Bow during the fourth quarter valued at about $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in shares of South Bow during the fourth quarter valued at about $290,786,000. Goldman Sachs Group Inc. raised its holdings in South Bow by 157.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock valued at $98,288,000 after acquiring an additional 10,510,206 shares in the last quarter. Finally, Vanguard Group Inc. acquired a new position in South Bow in the 4th quarter valued at approximately $206,467,000.

About South Bow

(Get Free Report

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.

See Also

Analyst Recommendations for South Bow (NYSE:SOBO)

Receive News & Ratings for South Bow Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Bow and related companies with MarketBeat.com's FREE daily email newsletter.