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

Shares of South Bow Corporation (NYSE:SOBO) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $31.5714.

A number of equities analysts recently weighed in on the stock. Raymond James Financial assumed coverage on shares of South Bow in a research note on Tuesday, June 9th. They set an “outperform” rating for the company. Scotiabank boosted their target price on shares of South Bow from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. Wall Street Zen downgraded shares of South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of South Bow in a research report on Thursday, June 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Capital International Investors lifted its position in shares of South Bow by 0.6% during the 4th quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock valued at $425,840,000 after acquiring an additional 94,772 shares during the period. Vanguard Group Inc. raised its holdings in South Bow by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock worth $238,387,000 after buying an additional 118,147 shares during the last quarter. Clearbridge Investments LLC raised its holdings in South Bow by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock worth $199,514,000 after buying an additional 209,864 shares during the last quarter. Cibc World Market Inc. raised its holdings in South Bow by 11.8% during the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after buying an additional 376,514 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in South Bow by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after buying an additional 565,787 shares during the last quarter.

South Bow Price Performance

Shares of NYSE SOBO opened at $35.88 on Tuesday. South Bow has a twelve month low of $25.01 and a twelve month high of $38.45. The firm has a fifty day simple moving average of $35.40 and a 200 day simple moving average of $31.84. The company has a market capitalization of $7.48 billion, a PE ratio of 17.67 and a beta of 0.14. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16.

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

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, June 30th. South Bow’s payout ratio is presently 98.52%.

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.