South Bow (NYSE:SOBO) Price Target Raised to $34.00

South Bow (NYSE:SOBO) had its price target raised by Barclays from $33.00 to $34.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 6.74% from the company’s current price.

Several other research firms have also recently issued reports on SOBO. Raymond James Financial reiterated an “outperform” rating on shares of South Bow in a research report on Wednesday, October 14th. Scotiabank raised their target price on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. TD Securities restated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Monday, August 10th. Finally, Wall Street Zen downgraded shares of South Bow from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, South Bow currently has an average rating of “Hold” and a consensus target price of $32.67.

South Bow Stock Down 6.5%

NYSE SOBO traded down $2.20 during trading hours on Thursday, reaching $31.85. 487,147 shares of the company’s stock traded hands, compared to its average volume of 858,328. South Bow has a 52-week low of $25.43 and a 52-week high of $39.02. The firm has a market cap of $6.64 billion, a PE ratio of 14.38 and a beta of 0.17. The firm has a 50-day simple moving average of $35.21 and a 200 day simple moving average of $34.48. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. South Bow had a return on equity of 15.84% and a net margin of 22.99%. The business had revenue of $503.00 million for the quarter, compared to the consensus estimate of $476.02 million. Sell-side analysts anticipate that South Bow will post 1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On South Bow

Several institutional investors have recently made changes to their positions in SOBO. Alps Advisors Inc. raised its position in South Bow by 3.6% during the third quarter. Alps Advisors Inc. now owns 46,781 shares of the company’s stock valued at $1,550,000 after purchasing an additional 1,646 shares during the period. apricus wealth LLC boosted its stake in shares of South Bow by 4.2% during the 3rd quarter. apricus wealth LLC now owns 16,000 shares of the company’s stock worth $530,000 after acquiring an additional 650 shares in the last quarter. Miller Howard Investments Inc. NY raised its stake in South Bow by 6.8% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 530,682 shares of the company’s stock valued at $17,581,000 after purchasing an additional 33,746 shares during the last quarter. Baskin Financial Services Inc. purchased a new stake in shares of South Bow in the third quarter valued at about $1,171,000. Finally, IFP Advisors Inc boosted its position in shares of South Bow by 202.6% during the 3rd quarter. IFP Advisors Inc now owns 2,454 shares of the company’s stock worth $81,000 after purchasing an additional 1,643 shares during the period.

South Bow News Summary

Here are the key news stories impacting South Bow this week:

• Positive Sentiment: South Bow reported third-quarter adjusted earnings of $0.47 per share, above the $0.43 analyst consensus, and revenue of $503 million versus expectations of about $476 million. Net income was reported at $99 million and higher year over year. South Bow Q3 results
• Positive Sentiment: The company beat Q3 estimates and raised its full-year cash-flow guidance, which may support confidence in its operating performance and ability to fund shareholder returns. South Bow beats estimates and raises cash-flow guidance
• Positive Sentiment: South Bow declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a stated yield of 6.0%. The dividend is payable January 15 to shareholders of record December 31. Dividend and earnings announcement
• Neutral Sentiment: While earnings per share topped estimates, they were unchanged from $0.47 a year earlier, making the year-over-year earnings picture less uniformly strong. Q3 earnings and revenue beat estimates

About South Bow

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.