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 report published on Saturday morning.

Several other research analysts have also recently weighed in on the stock. National Bank Financial upped their price target on shares of South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, March 16th. The Goldman Sachs Group began coverage on shares of South Bow in a report on Monday, April 20th. They issued a “sell” rating and a $29.00 price target for the company. Scotiabank increased their target price on shares of South Bow from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday. Wolfe Research cut shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price for the company. in a report on Wednesday, January 14th. Finally, TD Securities restated a “hold” rating on shares of South Bow in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, South Bow has a consensus rating of “Reduce” and a consensus price target of $30.63.

South Bow Stock Up 2.1%

South Bow stock opened at $35.43 on Friday. The stock has a market capitalization of $7.39 billion, a PE ratio of 17.45 and a beta of 0.11. South Bow has a twelve month low of $24.51 and a twelve month high of $35.56. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. The company has a 50 day moving average of $33.29 and a 200-day moving average of $29.65.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. On average, equities research analysts anticipate that South Bow will post 1.88 EPS for the current fiscal year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 30th. South Bow’s dividend payout ratio is 98.52%.

Institutional Trading of South Bow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in South Bow by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after acquiring an additional 565,787 shares in the last quarter. Parallel Advisors LLC raised its position in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the period. Maryland State Retirement & Pension System raised its position in shares of South Bow by 7.4% in the first quarter. Maryland State Retirement & Pension System now owns 255,294 shares of the company’s stock valued at $8,484,000 after purchasing an additional 17,562 shares during the period. Sageworth Trust Co bought a new position in shares of South Bow in the first quarter valued at about $208,000. Finally, Dividend Assets Capital LLC raised its position in shares of South Bow by 40.9% in the first quarter. Dividend Assets Capital LLC now owns 16,460 shares of the company’s stock valued at $548,000 after purchasing an additional 4,774 shares during the period.

South Bow Company Profile

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.