South Bow Corporation (NYSE:SOBO) Receives $29.00 Average Target Price from Brokerages

South Bow Corporation (NYSE:SOBO) has earned a consensus rating of “Reduce” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $29.00.

A number of analysts recently issued reports on SOBO shares. National Bankshares lifted their price objective on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Jefferies Financial Group upgraded South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Scotiabank reissued a “sector perform” rating and issued a $30.00 price target on shares of South Bow in a research note on Friday, January 16th. CIBC raised their price objective on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th.

Institutional Trading of South Bow

A number of institutional investors and hedge funds have recently made changes to their positions in SOBO. City Holding Co. increased its holdings in shares of 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 acquiring an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the period. IFP Advisors Inc grew its holdings in 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 purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after purchasing an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of South Bow in the fourth quarter worth $39,000.

South Bow Stock Performance

Shares of SOBO opened at $27.58 on Friday. The company has a market capitalization of $5.74 billion, a PE ratio of 17.34 and a beta of 0.47. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The company’s 50 day moving average price is $27.30 and its 200 day moving average price is $27.18. South Bow has a 52 week low of $21.16 and a 52 week high of $29.19.

South Bow (NYSE:SOBO) last issued its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The company had revenue of $461.00 million during the quarter, compared to analyst estimates of $498.00 million. The company’s revenue for the quarter was down 13.7% compared to the same quarter last year. Research analysts expect that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.3%. South Bow’s dividend payout ratio is currently 125.79%.

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.