South Bow Co. (NYSE:SOBO) Receives Consensus Rating of "Hold" from Analysts

Shares of South Bow Co. (NYSE:SOBO - Get Free Report) have been given a consensus rating of "Hold" by the thirteen ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $28.60.

SOBO has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of South Bow in a research report on Friday, March 28th. They issued a "neutral" rating and a $28.00 price objective for the company. Wolfe Research lowered South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th. Royal Bank of Canada restated an "outperform" rating and issued a $38.00 price objective on shares of South Bow in a research report on Monday, May 19th. Finally, National Bankshares boosted their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th.

South Bow Price Performance

SOBO stock traded down $0.13 during trading on Friday, hitting $26.96. 994,068 shares of the company traded hands, compared to its average volume of 864,925. The stock's 50-day simple moving average is $25.33 and its 200 day simple moving average is $24.94. The company has a market cap of $5.61 billion and a PE ratio of 14.57. South Bow has a 1 year low of $21.16 and a 1 year high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million for the quarter, compared to analysts' expectations of $527.00 million. The firm's revenue for the quarter was down 8.5% on a year-over-year basis. Research analysts expect that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 7.42%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's payout ratio is 108.11%.

Institutional Investors Weigh In On South Bow

Large investors have recently modified their holdings of the business. Roxbury Financial LLC purchased a new stake in shares of South Bow during the fourth quarter worth $29,000. Wiser Advisor Group LLC purchased a new stake in South Bow during the 4th quarter valued at about $27,000. Louisbourg Investments Inc. purchased a new stake in shares of South Bow in the first quarter valued at approximately $31,000. BNP Paribas Financial Markets purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $29,000. Finally, Assetmark Inc. purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $33,000.

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.