South Bow Co. (NYSE:SOBO) Receives $26.25 Average Target Price from Analysts

South Bow Co. (NYSE:SOBO - Get Free Report) has received an average rating of "Hold" from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, one has assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.60.

Several brokerages recently issued reports on SOBO. Royal Bank of Canada reissued an "outperform" rating and set a $38.00 price objective on shares of South Bow in a report on Monday. National Bankshares upped their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Scotiabank raised their target price on South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. JPMorgan Chase & Co. began coverage on shares of South Bow in a report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price target for the company. Finally, CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 target price for the company. in a report on Friday, March 7th.

Institutional Investors Weigh In On South Bow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in South Bow in the 1st quarter valued at approximately $885,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of South Bow by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company's stock valued at $5,079,000 after purchasing an additional 29,542 shares in the last quarter. Zimmer Partners LP purchased a new stake in South Bow during the 1st quarter worth about $4,471,000. Goldman Sachs Group Inc. lifted 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 purchasing an additional 10,510,206 shares during the last quarter. Finally, Murchinson Ltd. purchased a new stake in shares of South Bow during the 1st quarter worth approximately $134,592,000.

South Bow Trading Up 0.7%

Shares of NYSE SOBO traded up $0.17 during midday trading on Monday, hitting $25.95. The company's stock had a trading volume of 483,396 shares, compared to its average volume of 871,422. South Bow has a 12-month low of $21.16 and a 12-month high of $27.60. The firm has a market cap of $5.40 billion and a P/E ratio of 14.03. The business's 50 day moving average is $25.00 and its two-hundred day moving average is $24.77.

South Bow (NYSE:SOBO - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. The company's revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts predict that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.71%. South Bow's dividend payout ratio (DPR) is 108.11%.

South Bow Company Profile

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.