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South Bow Corporation (NYSE:SOBO) Given Consensus Rating of "Hold" by Brokerages

South Bow logo with Energy background

Key Points

  • South Bow Corporation (NYSE:SOBO) has received an average rating of "Hold" from thirteen research firms, with three sell ratings, one buy rating, and two strong buy ratings.
  • The company recently declared a quarterly dividend of $0.50, representing a yield of 7.2%, with a payout ratio currently at 108.11%.
  • In its latest earnings report, South Bow posted $0.42 EPS, exceeding analysts' estimates of $0.38, alongside a revenue of $524 million compared to an expected $449 million.
  • MarketBeat previews the top five stocks to own by November 1st.

South Bow Corporation (NYSE:SOBO - Get Free Report) has been given an average rating of "Hold" by the thirteen analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $28.80.

Several equities research analysts have commented on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a research report on Friday, August 8th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. National Bankshares increased their target price on shares of South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Finally, CIBC increased their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd.

Read Our Latest Analysis on SOBO

Hedge Funds Weigh In On South Bow

Hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC boosted its position in shares of South Bow by 0.4% in the first quarter. HighTower Advisors LLC now owns 112,769 shares of the company's stock worth $2,878,000 after purchasing an additional 451 shares during the period. Quantinno Capital Management LP raised its stake in South Bow by 4.9% during the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company's stock valued at $264,000 after purchasing an additional 478 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of South Bow by 4.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company's stock valued at $378,000 after acquiring an additional 616 shares during the period. Metis Global Partners LLC raised its stake in shares of South Bow by 6.0% in the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company's stock valued at $353,000 after acquiring an additional 769 shares during the period. Finally, Mutual Advisors LLC raised its stake in shares of South Bow by 3.3% in the second quarter. Mutual Advisors LLC now owns 28,409 shares of the company's stock valued at $737,000 after acquiring an additional 904 shares during the period.

South Bow Trading Up 1.3%

SOBO stock traded up $0.36 during trading on Friday, hitting $28.33. The company had a trading volume of 327,005 shares, compared to its average volume of 815,332. The firm has a 50-day moving average price of $27.24 and a 200-day moving average price of $26.15. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19. South Bow has a 12 month low of $21.12 and a 12 month high of $28.50. The stock has a market cap of $5.90 billion and a price-to-earnings ratio of 15.31.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. As a group, analysts predict that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.00 annualized dividend and a dividend yield of 7.1%. South Bow's payout ratio is currently 108.11%.

About South Bow

(Get Free Report)

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.

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