South Bow (NYSE:SOBO) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of South Bow (NYSE:SOBO) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on SOBO. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Raymond James Financial reaffirmed an “outperform” rating on shares of South Bow in a research note on Wednesday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Barclays lowered shares of South Bow from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $35.00 to $33.00 in a report on Friday, October 9th. Finally, Weiss Ratings lowered shares of South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.67.

South Bow Stock Down 1.3%

Shares of SOBO opened at $34.22 on Friday. South Bow has a 52-week low of $25.01 and a 52-week high of $39.02. The company has a market capitalization of $7.14 billion, a PE ratio of 17.17 and a beta of 0.22. The stock has a fifty day simple moving average of $35.68 and a two-hundred day simple moving average of $35.67. The company has a quick ratio of 1.44, a current ratio of 1.52 and a debt-to-equity ratio of 2.15.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%. The business had revenue of $546.00 million for the quarter, compared to analyst estimates of $496.87 million. As a group, equities analysts forecast that South Bow will post 1.87 EPS for the current year.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, September 29th. South Bow’s dividend payout ratio is 90.50%.

Hedge Funds Weigh In On South Bow

A number of hedge funds have recently modified their holdings of the business. Baskin Financial Services Inc. acquired a new position in shares of South Bow in the 3rd quarter worth approximately $1,171,000. 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. TD Waterhouse Canada Inc. boosted its position in shares of South Bow by 1.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,978,562 shares of the company’s stock worth $66,282,000 after purchasing an additional 31,776 shares during the period. Columbus Macro LLC purchased a new position in shares of South Bow during the 3rd quarter worth approximately $6,108,000. Finally, Engineers Gate Manager LP boosted its position in shares of South Bow by 10.5% during the 2nd quarter. Engineers Gate Manager LP now owns 15,391 shares of the company’s stock worth $542,000 after purchasing an additional 1,458 shares during the period.

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.