South Bow Corporation (NYSE:SOBO) Receives Consensus Rating of “Hold” from Brokerages

South Bow Corporation (NYSE:SOBO) has been assigned a consensus recommendation of “Hold” from the fifteen analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $33.00.

SOBO has been the subject of several research analyst reports. Weiss Ratings downgraded shares of South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday. Barclays upped their price target on South Bow from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Canadian Imperial Bank of Commerce raised their price objective on South Bow from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of South Bow in a research report on Thursday, May 28th.

South Bow Trading Down 1.1%

Shares of SOBO stock opened at $36.00 on Friday. The company has a market cap of $7.51 billion, a P/E ratio of 16.29 and a beta of 0.14. The stock has a 50 day simple moving average of $37.05 and a two-hundred day simple moving average of $35.47. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. South Bow has a fifty-two week low of $25.01 and a fifty-two week high of $39.02.

South Bow (NYSE:SOBO) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS 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 the consensus estimate of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. Research analysts forecast that South Bow will post 1.87 earnings per share for the current year.

South Bow Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Steadtrust LLC boosted its position in South Bow by 0.9% during the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock worth $1,195,000 after purchasing an additional 300 shares during the period. Parkside Financial Bank & Trust raised its position in shares of South Bow by 10.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after purchasing an additional 344 shares during the period. Quantinno Capital Management LP lifted its stake in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after buying an additional 478 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of South Bow by 140.5% during the first 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. Finally, apricus wealth LLC boosted its holdings in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after acquiring an additional 600 shares during the period.

About South Bow

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.