South Bow Corporation (NYSE:SOBO) Receives $29.50 Average Target Price from Analysts

Shares of South Bow Corporation (NYSE:SOBO) have been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $29.50.

A number of research firms have weighed in on SOBO. Scotiabank increased their target price on South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Monday, October 20th. CIBC increased their price target on South Bow from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Finally, National Bankshares lifted their target price on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th.

Institutional Investors Weigh In On South Bow

Several institutional investors have recently made changes to their positions in SOBO. Aviso Financial Inc. increased its holdings in South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after buying an additional 394 shares during the period. Quantinno Capital Management LP grew its holdings in South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of South Bow by 4.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after purchasing an additional 616 shares during the last quarter. EverSource Wealth Advisors LLC lifted 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 valued at $30,000 after purchasing an additional 645 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of South Bow by 6.0% in the 2nd quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock worth $353,000 after purchasing an additional 769 shares in the last quarter.

South Bow Trading Down 3.2%

NYSE:SOBO opened at $27.49 on Tuesday. The firm has a market capitalization of $5.72 billion, a P/E ratio of 17.29 and a beta of 0.47. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The company has a fifty day moving average of $27.11 and a 200 day moving average of $27.10. 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 quarterly earnings data on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The firm had revenue of $461.00 million for the quarter, compared to analyst estimates of $498.00 million. South Bow had a return on equity of 15.13% and a net margin of 16.84%.South Bow’s quarterly revenue was down 13.7% on a year-over-year basis. On average, research analysts predict that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 7.3%. South Bow’s payout ratio is presently 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.