National Bank Financial Forecasts Strong Price Appreciation for South Bow (NYSE:SOBO) Stock

South Bow (NYSE:SOBO) had its price target boosted by research analysts at National Bank Financial from $29.00 to $30.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential downside of 11.41% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. Scotiabank upped their target price 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, Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Three equities research 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, South Bow presently has an average rating of “Hold” and an average target price of $30.57.

South Bow Trading Up 1.1%

Shares of SOBO traded up $0.38 during mid-day trading on Monday, hitting $33.87. 357,538 shares of the company’s stock traded hands, compared to its average volume of 968,135. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow has a 1 year low of $21.16 and a 1 year high of $34.01. The firm has a market capitalization of $7.05 billion, a P/E ratio of 16.28 and a beta of 0.28. The business’s 50-day moving average price is $29.51 and its 200-day moving average price is $28.13.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. The company had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. South Bow had a return on equity of 15.69% and a net margin of 21.80%.The firm’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, sell-side analysts forecast that South Bow will post 1.74 EPS for the current fiscal year.

Institutional Investors Weigh In On South Bow

Several hedge funds have recently bought and sold shares of SOBO. City Holding Co. raised its stake in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after buying an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake 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 worth $30,000 after acquiring an additional 645 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after acquiring an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 worth $35,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of South Bow in the 4th quarter worth about $39,000.

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.