South Bow (NYSE:SOBO) Raised to "Hold" at Wall Street Zen

Key Points

• South Bow was upgraded by Wall Street Zen from “sell” to “hold”, adding to a mixed analyst picture that currently shows an overall consensus rating of Hold.
• The stock closed at $37.86, near its 52-week high of $38.45, and has climbed above both its 50-day and 200-day moving averages.
• In its latest earnings report, South Bow posted $0.44 EPS, missing estimates by $0.02, while revenue of $491 million came in roughly in line with expectations.

South Bow (NYSE:SOBO - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently commented on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of South Bow from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Tuesday, May 26th. Raymond James Financial assumed coverage on shares of South Bow in a research note on Tuesday, June 9th. They set an "outperform" rating for the company. The Goldman Sachs Group initiated coverage on South Bow in a report on Monday, April 20th. They issued a "sell" rating and a $29.00 target price on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of South Bow in a report on Thursday, May 28th. Finally, National Bank Financial raised their target price on South Bow from $31.00 to $35.00 and gave the stock a "sector perform" rating in a research report on Monday, June 1st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $31.57.

South Bow Stock Performance

Shares of SOBO opened at $37.86 on Friday. South Bow has a 1 year low of $25.01 and a 1 year high of $38.45. The stock has a market capitalization of $7.90 billion, a PE ratio of 18.65 and a beta of 0.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The stock has a 50-day simple moving average of $36.62 and a 200-day simple moving average of $32.94.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.02). The firm had revenue of $491.00 million for the quarter, compared to analysts' expectations of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, analysts predict that South Bow will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On South Bow

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. City Holding Co. boosted its holdings in shares of South Bow by 277.4% in the fourth quarter. City Holding Co. now owns 1,000 shares of the company's stock valued at $27,000 after acquiring an additional 735 shares during the period. Parallel Advisors LLC boosted its stake in South Bow by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company's stock worth $28,000 after purchasing an additional 496 shares during the period. IFP Advisors Inc grew its position in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company's stock worth $34,000 after purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in 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 worth $35,000 after purchasing an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in South Bow during the 4th quarter worth $39,000.

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.

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