South Bow (NYSE:SOBO) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of South Bow (NYSE:SOBO) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other research analysts have also weighed in on the stock. National Bank Financial increased 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. TD Securities restated a “hold” rating on shares of South Bow in a report on Thursday, July 16th. Scotiabank increased their price objective on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.00.

South Bow Stock Up 0.3%

SOBO stock opened at $35.88 on Friday. The firm has a market cap of $7.49 billion, a PE ratio of 16.24 and a beta of 0.14. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The firm’s 50 day moving average price is $37.02 and its 200-day moving average price is $35.60. South Bow has a one year low of $25.01 and a one year high of $39.02.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. On average, equities research analysts anticipate that South Bow will post 1.88 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 29th. South Bow’s dividend payout ratio (DPR) is presently 90.50%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in South Bow by 78.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after purchasing an additional 831 shares in the last quarter. Kelleher Financial Advisors acquired a new position in South Bow in the second quarter valued at approximately $68,000. Clearstead Advisors LLC increased its stake in South Bow by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,150 shares of the company’s stock valued at $59,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in South Bow in the second quarter valued at approximately $81,000.

South Bow Company Profile

South Bow Corporation is a North American crude oil transportation and storage company headquartered in Calgary, Alberta. The company owns and operates infrastructure that moves crude oil from producing regions in Western Canada to refining and export markets in the United States.

South Bow’s principal asset is the Keystone Pipeline System, which connects oil supplies from the Western Canadian Sedimentary Basin with refineries and storage hubs in the U.S. Midwest and along the U.S. Gulf Coast.