Brokerages Set South Bow Corporation (NYSE:SOBO) PT at $28.80

Key Points

• South Bow Corporation (NYSE:SOBO) has received an average rating of "Hold" from thirteen brokerage firms, with the average twelve-month target price set at $28.80.
• In its latest quarterly earnings report, South Bow reported $0.47 earnings per share, surpassing estimates by $0.05, although revenues were down 8.5% year-over-year.
• The company pays a quarterly dividend of $0.50, translating to an annualized yield of 7.6%, with a payout ratio of 108.11%.

Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) have earned an average rating of "Hold" from the thirteen analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $28.80.

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $38.00 price objective on shares of South Bow in a report on Monday, May 19th. CIBC lifted their price objective on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd.

South Bow Trading Up 0.0%

SOBO traded up $0.01 during midday trading on Friday, reaching $26.72. 371,119 shares of the company were exchanged, compared to its average volume of 847,559. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.20 and a current ratio of 1.29. South Bow has a one year low of $21.12 and a one year high of $27.60. The stock has a market capitalization of $5.56 billion and a P/E ratio of 14.45. The stock's 50-day simple moving average is $26.32 and its 200 day simple moving average is $25.52.

South Bow (NYSE:SOBO - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.05. The company had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. The business's quarterly revenue was down 8.5% compared to the same quarter last year. As a group, analysts forecast that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 7.5%. South Bow's payout ratio is 108.11%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SOBO. Commonwealth Equity Services LLC acquired a new position in shares of South Bow during the 4th quarter worth approximately $482,000. American Century Companies Inc. acquired a new position in shares of South Bow during the 4th quarter worth approximately $2,042,000. LPL Financial LLC acquired a new position in shares of South Bow during the 4th quarter worth approximately $563,000. Vanguard Group Inc. acquired a new position in shares of South Bow during the 4th quarter worth approximately $206,467,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of South Bow during the 4th quarter worth approximately $4,085,000.

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.