South Bow Corporation (NYSE:SOBO) Given Average Rating of “Reduce” by Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have earned an average rating of “Reduce” from the thirteen analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $29.00.

A number of equities analysts have commented on SOBO shares. National Bankshares raised their price objective on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Morgan Stanley restated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Barclays began coverage on shares of South Bow in a research note on Monday, December 8th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, Wolfe Research lowered shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a report on Wednesday, January 14th.

South Bow Price Performance

Shares of South Bow stock opened at $27.65 on Friday. 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 stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 17.39 and a beta of 0.47. South Bow has a twelve month low of $21.16 and a twelve month high of $29.19. The company has a 50-day simple moving average of $27.30 and a two-hundred day simple moving average of $27.15.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $461.00 million for the quarter, compared to analyst estimates of $498.00 million. The company’s revenue was down 13.7% on a year-over-year basis. Analysts forecast that South Bow will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Wednesday, December 31st. South Bow’s dividend payout ratio (DPR) is 125.79%.

Institutional Investors Weigh In On South Bow

A number of large investors have recently modified their holdings of the business. City Holding Co. raised its position in 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. EverSource Wealth Advisors LLC raised its holdings in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares during the last quarter. IFP Advisors Inc boosted its position in 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 buying an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after buying an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in South Bow during the 4th quarter worth approximately $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.