South Bow Co. (NYSE:SOBO) Given Consensus Rating of “Hold” by Analysts

South Bow Co. (NYSE:SOBO) has received an average rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $26.25.

A number of brokerages have issued reports on SOBO. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research note on Friday, March 7th. Scotiabank upped their price objective on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. National Bankshares upped their price target on South Bow from $24.00 to $25.00 and gave the company a “sector perform” rating in a research note on Friday, March 7th. Finally, Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th.

South Bow Stock Up 0.6 %

Shares of SOBO opened at $26.18 on Friday. The firm’s fifty day moving average price is $25.31. The firm has a market capitalization of $5.45 billion and a price-to-earnings ratio of 14.15. South Bow has a 12-month low of $21.98 and a 12-month high of $27.60.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. As a group, equities analysts predict that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date is Monday, March 31st. South Bow’s payout ratio is currently 108.11%.

Institutional Investors Weigh In On South Bow

Several large investors have recently made changes to their positions in SOBO. Hennessy Advisors Inc. bought a new stake in shares of South Bow in the fourth quarter valued at about $276,000. Nexus Investment Management ULC acquired a new stake in South Bow in the 4th quarter valued at approximately $2,810,000. MassMutual Private Wealth & Trust FSB bought a new stake in South Bow in the 4th quarter valued at approximately $213,000. Viking Fund Management LLC bought a new position in shares of South Bow during the 4th quarter worth approximately $740,000. Finally, Mutual Advisors LLC acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $517,000.

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.