South Bow’s (SOBO) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

South Bow (NYSE:SOBO)‘s stock had its “buy (b-)” rating reiterated by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other equities analysts have also issued reports on SOBO. Scotiabank boosted their price target on shares of South Bow from $27.00 to $28.00 and gave the company a “sector perform” rating in a report on Monday. JPMorgan Chase & Co. restated an “underweight” rating and set a $27.00 price objective on shares of South Bow in a research note on Thursday, August 21st. CIBC upped their target price on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Friday, August 8th. Finally, National Bankshares upped their price target on shares of South Bow from $25.00 to $26.00 and gave the company a “sector perform” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, South Bow presently has an average rating of “Hold” and an average price target of $29.40.

South Bow Price Performance

SOBO opened at $26.11 on Friday. The company has a fifty day moving average price of $27.64 and a two-hundred day moving average price of $26.48. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. South Bow has a 52 week low of $21.16 and a 52 week high of $29.19. The firm has a market capitalization of $5.44 billion and a PE ratio of 14.12.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. As a group, analysts anticipate that South Bow will post 1.74 earnings per share for the current year.

Institutional Trading of South Bow

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in South Bow by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company’s stock valued at $321,990,000 after buying an additional 280,088 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of South Bow by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company’s stock valued at $227,531,000 after acquiring an additional 157,355 shares during the last quarter. Bank of Montreal Can raised its stake in shares of South Bow by 8.0% during the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock valued at $159,405,000 after acquiring an additional 452,012 shares during the last quarter. Murchinson Ltd. bought a new position in South Bow during the first quarter worth $134,592,000. Finally, Goldman Sachs Group Inc. raised its stake in South Bow by 157.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company’s stock worth $98,288,000 after buying an additional 10,510,206 shares during the last quarter.

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.