South Bow Co. (NYSE:SOBO) Receives Average Recommendation of "Hold" from Analysts

Shares of South Bow Co. (NYSE:SOBO - Get Free Report) have received a consensus rating of "Hold" from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and two have given a strong buy rating 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.

Several equities research analysts have recently issued reports on the stock. 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. CIBC downgraded shares of 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. Wolfe Research lowered shares of South Bow from an "outperform" rating to a "peer perform" rating in a research note on Friday, March 7th. Scotiabank raised their price target on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a report on Friday, March 7th. Finally, National Bankshares lifted their target price on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a research report on Friday, March 7th.

Institutional Investors Weigh In On South Bow

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new position in South Bow during the 4th quarter valued at about $34,000. US Bancorp DE bought a new stake in shares of South Bow during the fourth quarter valued at approximately $373,000. Assetmark Inc. acquired a new position in shares of South Bow during the fourth quarter worth approximately $33,000. Geode Capital Management LLC acquired a new position in shares of South Bow during the fourth quarter worth approximately $4,803,000. Finally, Sovereign Investment Advisors LLC bought a new position in South Bow in the 4th quarter worth approximately $261,000.

South Bow Stock Down 0.9%

Shares of SOBO stock traded down $0.25 on Friday, reaching $27.05. 1,292,394 shares of the stock were exchanged, compared to its average volume of 864,170. South Bow has a 1-year low of $21.16 and a 1-year high of $27.60. The stock has a market cap of $5.63 billion and a P/E ratio of 14.62. The firm has a 50 day moving average of $25.22 and a two-hundred day moving average of $24.93.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.47 EPS for the quarter, topping 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 business's revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 7.39%. South Bow's payout ratio is 108.11%.

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.