South Bow Corporation (NYSE:SOBO) Given Average Recommendation of “Hold” by Brokerages

South Bow Corporation (NYSE:SOBO) has been given a consensus rating of “Hold” by the sixteen ratings firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $31.5714.

A number of brokerages recently issued reports on SOBO. Raymond James Financial began coverage on South Bow in a report on Tuesday, June 9th. They set an “outperform” rating on the stock. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a report on Monday, May 11th. National Bank Financial boosted their price target on South Bow from $31.00 to $35.00 and gave the company a “sector perform” rating in a report on Monday, June 1st. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a report on Thursday, May 28th. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, April 27th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. City Holding Co. increased its holdings in South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the period. Parallel Advisors LLC grew its holdings in shares of South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after acquiring an additional 496 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of South Bow by 157.3% during the 3rd 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 period. IFP Advisors Inc grew its holdings in shares of South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares during the period.

South Bow Stock Down 0.0%

SOBO opened at $36.57 on Tuesday. The company has a market cap of $7.63 billion, a P/E ratio of 18.01 and a beta of 0.14. The business’s 50-day moving average price is $35.68 and its 200-day moving average price is $32.06. The company has a current ratio of 1.51, a quick ratio of 1.37 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.

South Bow (NYSE:SOBO) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The company had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $491.21 million. During the same quarter in the prior year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities analysts expect that South Bow will post 1.77 EPS for the current year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date is Tuesday, June 30th. South Bow’s payout ratio is currently 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.