Analysts Set South Bow Co. (NYSE:SOBO) Price Target at $25.50

Shares of South Bow Co. (NYSE:SOBO) have received a consensus rating of “Hold” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.67.

SOBO has been the topic of several recent research reports. TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. Scotiabank raised their price objective on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Friday, March 7th.

South Bow Price Performance

Shares of NYSE SOBO opened at $25.27 on Wednesday. The company has a market cap of $5.26 billion and a PE ratio of 13.66. The firm’s fifty day moving average is $24.63. South Bow has a 12-month low of $21.12 and a 12-month high of $27.60.

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

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 7.91%. South Bow’s dividend payout ratio is currently 108.11%.

Institutional Trading of South Bow

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SOBO. Wiser Advisor Group LLC acquired a new stake in South Bow during the 4th quarter worth about $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow during the 4th quarter valued at about $29,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow during the 4th quarter valued at about $29,000. Assetmark Inc. purchased a new position in shares of South Bow during the 4th quarter valued at about $33,000. Finally, Rhumbline Advisers purchased a new position in shares of South Bow during the 4th quarter valued at about $34,000.

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.