South Bow (NYSE:SOBO) Price Target Raised to $33.00

South Bow (NYSE:SOBO) had its price target raised by Barclays from $27.00 to $33.00 in a report released on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts also recently issued reports on the stock. Wolfe Research downgraded shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a report on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. National Bank Financial raised their price target on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Scotiabank lifted their price objective on South Bow from $30.00 to $34.00 and gave the stock a “sector perform” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group upgraded South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, South Bow has a consensus rating of “Hold” and a consensus target price of $30.43.

South Bow Trading Up 1.2%

Shares of SOBO stock opened at $33.44 on Monday. South Bow has a 1-year low of $21.16 and a 1-year high of $34.01. The company has a market cap of $6.96 billion, a price-to-earnings ratio of 16.08 and a beta of 0.29. 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 stock has a 50 day simple moving average of $29.28 and a 200-day simple moving average of $28.04.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.21. The firm had revenue of $503.00 million for the quarter, compared to analysts’ expectations of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. On average, equities research analysts expect that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Tuesday, March 31st. South Bow’s payout ratio is 96.15%.

Institutional Investors Weigh In On South Bow

A number of hedge funds have recently modified their holdings of SOBO. Parkside Financial Bank & Trust boosted its position in South Bow by 10.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after acquiring an additional 344 shares during the last quarter. Aviso Financial Inc. boosted its holdings in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the last quarter. LPL Financial LLC grew its position in shares of South Bow by 1.6% in the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock valued at $1,058,000 after purchasing an additional 615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares in the last quarter.

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.