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

South Bow (NYSE:SOBO) had its price target upped by equities researchers at Barclays from $27.00 to $33.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 1.55% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on SOBO. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. National Bank Financial lifted their price target on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a report on Wednesday, December 17th. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a report on Wednesday, January 14th. Finally, Scotiabank increased their price target on South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.43.

South Bow Stock Up 0.2%

SOBO stock traded up $0.07 during midday trading on Monday, hitting $33.52. The company’s stock had a trading volume of 164,611 shares, compared to its average volume of 953,739. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. South Bow has a twelve month low of $21.16 and a twelve month high of $34.01. The company’s fifty day moving average price is $28.97 and its 200 day moving average price is $27.92. The stock has a market capitalization of $6.98 billion, a P/E ratio of 16.12 and a beta of 0.29.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. The company had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. South Bow had a net margin of 21.80% and a return on equity of 15.69%. The company’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. As a group, equities research analysts predict that South Bow will post 1.74 EPS for the current year.

Institutional Investors Weigh In On South Bow

Institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in South Bow in the 2nd quarter worth about $26,248,000. Thornburg Investment Management Inc. lifted its position in shares of South Bow by 114.5% during the 2nd quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock valued at $43,047,000 after acquiring an additional 883,918 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of South Bow by 51.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock worth $64,541,000 after purchasing an additional 799,707 shares in the last quarter. American Century Companies Inc. raised its stake in South Bow by 467.7% in the third quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock valued at $27,137,000 after purchasing an additional 790,111 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in South Bow by 485.9% during the third quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after buying an additional 650,648 shares in the last quarter.

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.