Brokerages Set South Bow Corporation (NYSE:SOBO) Target Price at $28.60

Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) have received an average recommendation of "Hold" from the thirteen analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $28.60.

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. began coverage on South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $38.00 price target on shares of South Bow in a research note on Monday, May 19th.

South Bow Price Performance

Shares of NYSE:SOBO remained flat at $26.16 during mid-day trading on Tuesday. The company had a trading volume of 712,906 shares, compared to its average volume of 886,053. The company has a current ratio of 1.29, a quick ratio of 1.20 and a debt-to-equity ratio of 2.20. The company has a market capitalization of $5.45 billion and a P/E ratio of 14.14. South Bow has a fifty-two week low of $21.16 and a fifty-two week high of $27.60. The business's 50 day moving average price is $26.09 and its 200 day moving average price is $25.19.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $498.00 million for the quarter, compared to the consensus estimate of $527.00 million. The company's revenue was down 8.5% compared to the same quarter last year. Analysts anticipate that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.65%. South Bow's payout ratio is 108.11%.

Institutional Trading of South Bow

A number of hedge funds have recently made changes to their positions in SOBO. BNP Paribas Financial Markets acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $29,000. Louisbourg Investments Inc. acquired a new stake in South Bow during the 1st quarter worth approximately $31,000. Assetmark Inc. acquired a new stake in South Bow during the 4th quarter worth approximately $33,000. Rhumbline Advisers acquired a new stake in South Bow during the 4th quarter worth approximately $34,000. Finally, Sit Investment Associates Inc. acquired a new stake in South Bow during the 4th quarter worth approximately $34,000.

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.