South Bow (NYSE:SOBO) Price Target Raised to $30.00
by Danessa Lincoln · The Markets DailySouth Bow (NYSE:SOBO – Free Report) had its price target lifted by National Bank Financial from $29.00 to $30.00 in a report published on Monday,BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the stock.
Several other equities research analysts have also recently commented on the company. Wolfe Research cut South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, January 14th. Barclays boosted their target price on South Bow from $27.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Monday, March 9th. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. Finally, BMO Capital Markets reissued a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, South Bow has a consensus rating of “Hold” and an average target price of $30.57.
Check Out Our Latest Research Report on SOBO
South Bow Stock Performance
SOBO stock opened at $33.36 on Monday. The stock has a market capitalization of $6.95 billion, a PE ratio of 16.04 and a beta of 0.29. South Bow has a 12-month low of $21.16 and a 12-month high of $34.24. The company has a current ratio of 1.50, a quick ratio of 1.28 and a debt-to-equity ratio of 2.13. The stock’s 50 day simple moving average is $29.94 and its 200 day simple moving average is $28.26.
South Bow (NYSE:SOBO – Get Free Report) last posted its earnings results on Thursday, March 5th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The business had revenue of $503.00 million during the quarter, compared to analyst estimates of $500.57 million. During the same quarter last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. As a group, research analysts forecast that South Bow will post 1.74 earnings per share for the current fiscal year.
South Bow Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. South Bow’s payout ratio is presently 96.15%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of SOBO. Parkside Financial Bank & Trust grew its stake in shares of South Bow by 10.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock valued at $104,000 after purchasing an additional 344 shares during the period. Aviso Financial Inc. lifted its stake in shares of South Bow by 8.2% in the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares during the period. Quantinno Capital Management LP lifted its stake in shares of South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares during the period. LPL Financial LLC boosted its holdings in shares of South Bow by 1.6% in the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after buying an additional 615 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after buying an additional 645 shares during the last quarter.
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.