South Bow Corporation (NYSE:SOBO) Given Average Recommendation of "Hold" by Analysts

Key Points

• South Bow Corporation (NYSE:SOBO) has received an average recommendation of "Hold" from 13 analysts, with three ratings for sell, seven for hold, one for buy, and two for strong buy.
• The company recently announced a quarterly dividend of $0.50 per share, set to be paid on October 15th, representing an annualized yield of 7.5% and a payout ratio of 108.11%.
• South Bow reported earnings of $0.42 per share for the last quarter, exceeding analysts' expectations, with revenues reaching $524 million compared to an estimate of $449 million.

Shares of South Bow Corporation (NYSE:SOBO - Get Free Report) have earned an average recommendation of "Hold" from the thirteen brokerages that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, one has given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $28.80.

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

South Bow Trading Up 0.8%

NYSE SOBO traded up $0.22 during mid-day trading on Wednesday, reaching $27.72. 694,974 shares of the stock were exchanged, compared to its average volume of 550,638. South Bow has a 1-year low of $21.12 and a 1-year high of $28.22. The business's fifty day simple moving average is $26.71 and its 200 day simple moving average is $25.92. The stock has a market capitalization of $5.77 billion and a PE ratio of 14.99. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28.

South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.04. The firm had revenue of $524.00 million for the quarter, compared to analyst estimates of $449.00 million. On average, research analysts anticipate 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 will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Monday, September 29th. South Bow's dividend payout ratio (DPR) is 108.11%.

Hedge Funds Weigh In On South Bow

Hedge funds have recently made changes to their positions in the stock. Louisbourg Investments Inc. acquired a new position in shares of South Bow in the 1st quarter valued at $31,000. BNP Paribas Financial Markets acquired a new position in shares of South Bow during the 4th quarter valued at $29,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock valued at $35,000 after acquiring an additional 1,276 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of South Bow during the 4th quarter valued at $35,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of South Bow by 150.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company's stock valued at $40,000 after acquiring an additional 930 shares in the last quarter.

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.