Weiss Ratings Reaffirms Buy (B-) Rating for South Bow (NYSE:SOBO)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for South Bow (NYSE:SOBO), indicating investor confidence in the stock's potential performance.
• South Bow's recent quarterly earnings report showed an EPS of $0.42, exceeding analysts' expectations of $0.38, with revenues reaching $524 million against estimates of $449 million.
• The average price target for South Bow is currently set at $28.80, with mixed ratings from analysts including two Strong Buy, two Buy, and three Sell ratings.

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

Several other equities research analysts also recently issued reports on the company. National Bankshares upped their price target on South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $27.00 price target on shares of South Bow in a research report on Thursday, August 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of South Bow in a report on Friday, August 8th. Finally, CIBC raised their price target on South Bow from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, South Bow has an average rating of "Hold" and an average price target of $28.80.

South Bow Trading Down 0.8%

Shares of SOBO stock traded down $0.22 during mid-day trading on Wednesday, reaching $28.41. 751,112 shares of the stock traded hands, compared to its average volume of 1,003,410. The stock's fifty day simple moving average is $27.75 and its two-hundred day simple moving average is $26.36. South Bow has a 1-year low of $21.16 and a 1-year high of $29.19. The company has a market cap of $5.92 billion and a price-to-earnings ratio of 15.36. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 EPS for the quarter, topping 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. On average, research analysts anticipate that South Bow will post 1.74 EPS for the current fiscal year.

Institutional Trading of South Bow

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of South Bow by 2.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,617,143 shares of the company's stock valued at $321,990,000 after acquiring an additional 280,088 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of South Bow by 1.8% during the first quarter. Vanguard Group Inc. now owns 8,907,058 shares of the company's stock valued at $227,531,000 after buying an additional 157,355 shares during the last quarter. Bank of Montreal Can grew its stake in shares of South Bow by 8.0% during the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company's stock valued at $159,405,000 after buying an additional 452,012 shares during the last quarter. Murchinson Ltd. bought a new position in South Bow in the first quarter worth approximately $134,592,000. Finally, Goldman Sachs Group Inc. grew its stake in South Bow by 157.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,851,407 shares of the company's stock worth $98,288,000 after purchasing an additional 10,510,206 shares in the last quarter.

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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