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

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.

South Bow Corporation (NYSE:SOBO - Get Free Report) has received a consensus recommendation of "Hold" from the thirteen research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $28.80.

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

South Bow Price Performance

Shares of NYSE:SOBO traded up $0.22 during midday trading on Wednesday, reaching $27.72. The company had a trading volume of 694,974 shares, compared to its average volume of 537,298. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19. South Bow has a 1-year low of $21.12 and a 1-year high of $28.22. The company has a fifty day simple moving average of $26.68 and a two-hundred day simple moving average of $25.89.

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

South Bow Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's payout ratio is presently 108.11%.

Institutional Trading of South Bow

A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets acquired a new position in South Bow during the fourth quarter worth $29,000. Louisbourg Investments Inc. acquired a new position in South Bow during the first quarter worth $31,000. Tower Research Capital LLC TRC acquired a new position in South Bow during the fourth quarter worth $35,000. Northwestern Mutual Wealth Management Co. increased its position in South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company's stock worth $35,000 after buying an additional 1,276 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in South Bow by 150.0% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,550 shares of the company's stock worth $40,000 after buying an additional 930 shares during 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.