South Bow's (SOBO) "Buy (B-)" Rating Reaffirmed at Weiss Ratings

Key Points

• South Bow's (SOBO) stock retains its "Buy (B-)" rating from Weiss Ratings, while other analysts provide varied ratings with a consensus of "Hold".
• JPMorgan Chase has set a target price of $27.00 for South Bow shares, while CIBC and Scotiabank have raised their target prices to $28.00.
• The company reported earnings of $0.42 per share for the last quarter, exceeding estimates, alongside strong revenue of $524 million, surpassing the expected $449 million.

South Bow (NYSE:SOBO - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $27.00 target price on shares of South Bow in a research note on Thursday, August 21st. CIBC raised their price target on shares of South Bow from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, October 9th. Royal Bank Of Canada restated an "outperform" rating on shares of South Bow in a research note on Friday, August 8th. Scotiabank raised their price target on shares of South Bow from $27.00 to $28.00 and gave the stock a "sector perform" rating in a research note on Monday. Finally, National Bankshares raised their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.40.

South Bow Stock Down 0.8%

NYSE SOBO opened at $26.11 on Friday. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.20 and a current ratio of 1.28. The firm has a 50-day simple moving average of $27.64 and a 200 day simple moving average of $26.48. South Bow has a twelve month low of $21.16 and a twelve month high of $29.19. The stock has a market cap of $5.44 billion and a PE ratio of 14.12.

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

Institutional Investors Weigh In On South Bow

A number of large investors have recently bought and sold shares of SOBO. Goldman Sachs Group Inc. grew its position in South Bow by 157.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company's stock worth $98,288,000 after acquiring an additional 10,510,206 shares during the last quarter. Murchinson Ltd. bought a new stake in South Bow during the 1st quarter worth approximately $134,592,000. Bank of Nova Scotia grew its position in South Bow by 196.7% during the 1st quarter. Bank of Nova Scotia now owns 2,193,469 shares of the company's stock worth $56,039,000 after acquiring an additional 1,454,084 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in South Bow by 650.4% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company's stock worth $39,541,000 after acquiring an additional 1,322,729 shares during the last quarter. Finally, Boston Partners bought a new stake in South Bow during the 1st quarter worth approximately $32,840,000.

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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