South Bow (NYSE:SOBO) Raised to Hold at Wall Street Zen

South Bow (NYSE:SOBO) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on SOBO. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Barclays increased their price target on South Bow from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Scotiabank lifted their price target on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, South Bow presently has an average rating of “Hold” and an average target price of $33.00.

South Bow Price Performance

SOBO stock opened at $33.83 on Friday. The company has a market capitalization of $7.06 billion, a PE ratio of 15.31 and a beta of 0.22. The company has a quick ratio of 1.44, a current ratio of 1.52 and a debt-to-equity ratio of 2.15. The stock’s 50 day moving average is $36.26 and its two-hundred day moving average is $35.67. South Bow has a 52-week low of $25.01 and a 52-week high of $39.02.

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

Hedge Funds Weigh In On South Bow

Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in South Bow by 140.5% during the first 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. EverSource Wealth Advisors LLC raised its position in shares of South Bow by 78.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock valued at $63,000 after purchasing an additional 831 shares during the period. Kelleher Financial Advisors bought a new position in shares of South Bow in the second quarter valued at approximately $68,000. Integrated Wealth Concepts LLC acquired a new stake in shares of South Bow in the second quarter worth $81,000. Finally, Nykredit A S acquired a new stake in shares of South Bow in the second quarter worth $137,000.

About South Bow

South Bow Corp. (NYSE: SOBO) is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy’s liquids pipelines business, which was completed in 2024.