South Bow (NYSE:SOBO) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of South Bow (NYSE:SOBO) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also recently commented on SOBO. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, August 10th. Canadian Imperial Bank of Commerce lifted their target price on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating on shares of South Bow in a report on Thursday, May 28th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, Barclays increased their target price on shares of South Bow from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.00.

South Bow Trading Down 2.3%

Shares of South Bow stock opened at $35.06 on Friday. South Bow has a 1 year low of $25.01 and a 1 year high of $39.02. The stock has a fifty day moving average price of $36.98 and a 200-day moving average price of $35.64. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. The firm has a market cap of $7.31 billion, a PE ratio of 15.86 and a beta of 0.14.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%.The firm had revenue of $546.00 million for the quarter, compared to analysts’ expectations of $496.87 million. Equities research analysts anticipate that South Bow will post 1.88 EPS for the current year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 29th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.00 annualized dividend and a yield of 5.7%. South Bow’s dividend payout ratio (DPR) is 90.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Steadtrust LLC raised its holdings in shares of South Bow by 0.9% during the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after purchasing an additional 300 shares during the last quarter. Parallel Advisors LLC raised its holdings in South Bow by 140.5% in the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock worth $28,000 after purchasing an additional 496 shares during the period. apricus wealth LLC raised its stake in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after buying an additional 600 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of South Bow by 14.3% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 5,882 shares of the company’s stock valued at $207,000 after acquiring an additional 738 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in South Bow by 78.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock worth $63,000 after acquiring an additional 831 shares during the period.

About South Bow

South Bow Corporation is a North American crude oil transportation and storage company headquartered in Calgary, Alberta. The company owns and operates infrastructure that moves crude oil from producing regions in Western Canada to refining and export markets in the United States.

South Bow’s principal asset is the Keystone Pipeline System, which connects oil supplies from the Western Canadian Sedimentary Basin with refineries and storage hubs in the U.S. Midwest and along the U.S. Gulf Coast.