South Bow Corporation (NYSE:SOBO) Receives $31.57 Average PT from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have earned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $32.00.

Several research analysts recently commented on the stock. Raymond James Financial initiated coverage on shares of South Bow in a research note on Tuesday, June 9th. They issued an “outperform” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, May 11th. National Bank Financial upped their target price on shares of South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Monday, June 1st. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th.

Institutional Investors Weigh In On South Bow

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Steadtrust LLC lifted its holdings 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 buying an additional 300 shares during the period. Parkside Financial Bank & Trust increased its stake 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 stake 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 raised its holdings in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after acquiring an additional 496 shares in the last quarter. Finally, apricus wealth LLC raised its holdings in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock valued at $506,000 after acquiring an additional 600 shares in the last quarter.

South Bow Stock Performance

SOBO stock opened at $38.48 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. The business’s fifty day simple moving average is $36.80 and its two-hundred day simple moving average is $33.29. South Bow has a twelve month low of $25.01 and a twelve month high of $38.94. The firm has a market cap of $8.03 billion, a price-to-earnings ratio of 18.96 and a beta of 0.16.

South Bow (NYSE:SOBO) last released its 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). The business had revenue of $491.00 million for the quarter, compared to the consensus estimate of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. Analysts predict that South Bow will post 1.78 earnings per share for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date was Tuesday, June 30th. South Bow’s dividend payout ratio (DPR) 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.