South Bow (NYSE:SOBO) Given New $34.00 Price Target at Scotiabank

South Bow (NYSE:SOBO) had its target price upped by equities research analysts at Scotiabank from $30.00 to $34.00 in a report issued on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 2.41% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Barclays assumed coverage on South Bow in a research report on Monday, December 8th. They set an “equal weight” rating and a $27.00 price target on the stock. UBS Group initiated coverage on South Bow in a research note on Thursday, December 11th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.57.

South Bow Stock Down 0.3%

South Bow stock traded down $0.11 during trading hours on Friday, reaching $33.20. The stock had a trading volume of 307,535 shares, compared to its average volume of 948,654. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 20.88 and a beta of 0.29. The business’s 50 day moving average price is $28.87 and its 200-day moving average price is $27.88. South Bow has a 52 week low of $21.16 and a 52 week high of $34.01.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.19. The company had revenue of $503.00 million during the quarter, compared to analysts’ expectations of $500.57 million. South Bow had a return on equity of 15.13% and a net margin of 16.84%.The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Sell-side analysts anticipate that South Bow will post 1.74 EPS for the current year.

Institutional Investors Weigh In On South Bow

A number of institutional investors have recently added to or reduced their stakes in SOBO. City Holding Co. raised its position in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares in the last quarter. IFP Advisors Inc raised its position in shares of 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 purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in South Bow during the 4th quarter worth approximately $39,000.

More South Bow News

Here are the key news stories impacting South Bow this week:

• Positive Sentiment: Q4 earnings beat — South Bow reported $0.61 EPS vs. consensus ~$0.42 and revenue of $503M (slightly above expectations). The quarter showed a 3.1% y/y revenue increase, solid net margin (~16.8%) and ROE (~15.1%), which supports near-term earnings credibility and valuation. Read More.
• Positive Sentiment: Dividend declared — South Bow declared a $0.50 quarterly dividend (annualized yield ~6.0%); record/ex-dividend dates set for Mar 31 and payment on Apr 15. The yield and payout timing can attract income-focused investors and provide support for the stock. Read More.
• Neutral Sentiment: Alberta-to-U.S. pipeline interest — South Bow is gauging customer interest in a proposed Alberta→U.S. pipeline. If customers commit, the project could expand export capacity and future cash flows, but it is early-stage and subject to commercial, regulatory and permitting risk. Read More.
• Neutral Sentiment: Moves to revive parts of Keystone XL — South Bow is seeking binding shipper commitments to revive segments of the Keystone XL route. This could unlock volumes and utilization if successful, but the outcome depends on shipper interest, capital plans and political/regulatory hurdles. Read More. Read More.

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.