South Bow Corporation (NYSE:SOBO) Given Consensus Recommendation of “Hold” by Analysts

South Bow Corporation (NYSE:SOBO) has been assigned an average recommendation of “Hold” from the sixteen research firms that are covering the company, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $32.1429.

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of South Bow from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce upped their price objective on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. TD Securities reaffirmed a “hold” rating on shares of South Bow in a report on Thursday, July 16th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research note on Monday, July 6th. Finally, Scotiabank lifted their target price on shares of South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st.

South Bow Stock Performance

Shares of NYSE SOBO opened at $36.31 on Wednesday. The business’s 50-day simple moving average is $36.60 and its 200-day simple moving average is $34.19. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. South Bow has a 52 week low of $25.01 and a 52 week high of $38.94. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 16.43 and a beta of 0.15.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The firm had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. As a group, equities research analysts expect that South Bow will post 1.71 earnings per share for the current fiscal year.

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 29th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Tuesday, September 29th. South Bow’s dividend payout ratio (DPR) is currently 90.50%.

Hedge Funds Weigh In On South Bow

A number of institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its stake in South Bow by 140.5% during the 1st 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. IFP Advisors Inc increased its position in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after buying an additional 1,276 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of South Bow during the fourth quarter worth approximately $39,000. Finally, Clearstead Advisors LLC boosted its position in shares of South Bow by 192.5% in the fourth quarter. Clearstead Advisors LLC now owns 2,150 shares of the company’s stock valued at $59,000 after acquiring an additional 1,415 shares during the period.

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.