South Bow (NYSE:SOBO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded South Bow from “hold” to “sell.” However, the broader analyst consensus remains “hold,” with an average price target of $33.00.
• South Bow shares opened at $35.88, within a 52-week range of $25.01 to $39.02. The company has a $7.49 billion market capitalization and a price-to-earnings ratio of 16.24.
• The company exceeded quarterly expectations, reporting $0.50 in EPS versus the $0.45 consensus and revenue of $546.00 million compared with estimates of $496.87 million.

South Bow (NYSE:SOBO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on SOBO. Canadian Imperial Bank of Commerce upped their price target on South Bow from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Tuesday, May 26th. Barclays raised their price objective 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. BMO Capital Markets reiterated a "market perform" rating on shares of South Bow in a research note on Monday, July 6th. National Bank Financial increased their target price on shares of South Bow from $31.00 to $35.00 and gave the company a "sector perform" rating in a report on Monday, June 1st. Finally, TD Securities reiterated a "hold" rating on shares of South Bow in a report on Thursday, July 16th. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, South Bow has a consensus rating of "Hold" and an average price target of $33.00.

South Bow Price Performance

Shares of NYSE SOBO opened at $35.88 on Friday. South Bow has a fifty-two week low of $25.01 and a fifty-two week high of $39.02. The stock has a market cap of $7.49 billion, a price-to-earnings ratio of 16.24 and a beta of 0.14. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.44 and a current ratio of 1.52. The firm's 50-day simple moving average is $37.02 and its 200 day simple moving average is $35.60.

South Bow (NYSE:SOBO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $496.87 million. As a group, research analysts anticipate that South Bow will post 1.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On South Bow

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its position in South Bow by 10.5% during the second quarter. Engineers Gate Manager LP now owns 15,391 shares of the company's stock worth $542,000 after purchasing an additional 1,458 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of South Bow during the 2nd quarter valued at approximately $81,000. Squarepoint Ops LLC lifted its stake in shares of South Bow by 21.4% during the 2nd quarter. Squarepoint Ops LLC now owns 23,269 shares of the company's stock valued at $820,000 after buying an additional 4,106 shares in the last quarter. Spark Investment Management LLC bought a new position in South Bow in the 2nd quarter worth approximately $598,000. Finally, Nykredit A S bought a new position in South Bow in the 2nd quarter worth approximately $137,000.

South Bow Company Profile

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.

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