South Bow Corporation (NYSE:SOBO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have been given a consensus rating of “Hold” by the sixteen brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $31.5714.

Several equities research analysts have commented on SOBO shares. Canadian Imperial Bank of Commerce boosted their price target on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Raymond James Financial began coverage on South Bow in a report on Tuesday, June 9th. They issued an “outperform” rating for the company. TD Securities reaffirmed a “hold” rating on shares of South Bow in a research report on Thursday. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Finally, Wall Street Zen raised South Bow from a “sell” rating to a “hold” rating in a research report on Saturday.

Institutional Investors Weigh In On South Bow

Large investors have recently made changes to their positions in the stock. Intact Investment Management Inc. lifted its stake in South Bow by 19.6% in the fourth quarter. Intact Investment Management Inc. now owns 964,360 shares of the company’s stock valued at $26,522,000 after acquiring an additional 158,100 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of South Bow by 204.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 118,991 shares of the company’s stock worth $3,366,000 after purchasing an additional 79,858 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in shares of South Bow by 7.6% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,336,103 shares of the company’s stock worth $36,700,000 after purchasing an additional 93,805 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of South Bow by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after purchasing an additional 118,147 shares during the period. Finally, Miller Howard Investments Inc. NY raised its holdings in shares of South Bow by 4.6% in the 4th quarter. Miller Howard Investments Inc. NY now owns 798,348 shares of the company’s stock valued at $21,931,000 after purchasing an additional 35,331 shares during the period.

South Bow Price Performance

NYSE SOBO opened at $37.86 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. South Bow has a 12-month low of $25.01 and a 12-month high of $38.45. The company has a market capitalization of $7.90 billion, a PE ratio of 18.65 and a beta of 0.16. The firm’s 50 day moving average is $36.62 and its 200-day moving average is $32.94.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, May 7th. The company reported $0.44 EPS 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 analyst estimates of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. Equities research analysts anticipate that South Bow will post 1.77 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 5.3%. South Bow’s payout ratio is 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.