South Bow (NYSE:SOBO) Upgraded to "Strong Sell" at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group issued a new "strong sell" rating on South Bow in a note to investors.
• Analyst coverage is mixed but leans negative: MarketBeat shows a consensus of "Reduce" with a $30.38 average price target (3 Buy, 7 Hold, 4 Sell).
• Fundamentals show a recent quarter beat (EPS $0.61 vs. $0.40) and revenue of $503M; SOBO trades around $31.47 with a $6.56B market cap and a PE of 15.13.

South Bow (NYSE:SOBO - Get Free Report) was upgraded by analysts at The Goldman Sachs Group to a "strong sell" rating in a note issued to investors on Sunday,Zacks.com reports.

Several other research firms have also commented on SOBO. Barclays lifted their price objective on shares of South Bow from $27.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Monday, March 9th. Scotiabank lifted their price objective on shares of South Bow from $30.00 to $34.00 and gave the stock a "sector perform" rating in a research note on Friday, March 6th. National Bank Financial lifted their price objective on shares of South Bow from $29.00 to $30.00 and gave the stock a "sector perform" rating in a research note on Monday, March 16th. Wolfe Research lowered shares of South Bow from a "peer perform" rating to an "underperform" rating and set a $24.00 price objective for the company. in a research note on Wednesday, January 14th. Finally, Weiss Ratings raised shares of South Bow from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, South Bow currently has a consensus rating of "Reduce" and a consensus price target of $30.38.

South Bow Trading Down 1.9%

SOBO stock opened at $31.47 on Friday. The firm has a fifty day moving average price of $32.57 and a 200 day moving average price of $29.10. South Bow has a fifty-two week low of $23.96 and a fifty-two week high of $34.90. The company has a debt-to-equity ratio of 2.13, a quick ratio of 1.43 and a current ratio of 1.50. The firm has a market cap of $6.56 billion, a PE ratio of 15.13 and a beta of 0.15.

South Bow (NYSE:SOBO - Get Free Report) last posted its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.21. South Bow had a net margin of 21.80% and a return on equity of 15.55%. The firm had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. During the same period last year, the firm posted $0.54 earnings per share. South Bow's revenue for the quarter was up 3.1% compared to the same quarter last year. Sell-side analysts anticipate that South Bow will post 1.87 earnings per share for the current fiscal year.

Institutional Trading of South Bow

Several institutional investors and hedge funds have recently made changes to their positions in SOBO. City Holding Co. lifted its position in shares of South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company's stock worth $27,000 after purchasing an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company's stock worth $30,000 after purchasing an additional 645 shares during the last quarter. IFP Advisors Inc lifted its position in shares of South Bow by 780.3% during the third 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. lifted its position in shares of 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 purchasing an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of South Bow during the fourth quarter worth $39,000.

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.

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