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

South Bow Co. (NYSE:SOBO) has earned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, one has issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $26.25.

A number of analysts recently weighed in on SOBO shares. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a research report on Friday, March 7th. JPMorgan Chase & Co. initiated coverage on South Bow in a research note on Friday, March 28th. They issued a “neutral” rating and a $28.00 target price for the company. National Bankshares boosted their price target on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. Scotiabank increased their price objective on shares of South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th. Finally, TD Securities assumed coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating on the stock.

Institutional Investors Weigh In On South Bow

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC bought a new position in shares of South Bow during the fourth quarter valued at approximately $461,249,000. Capital International Investors acquired a new stake in South Bow in the fourth quarter worth $315,469,000. Price T Rowe Associates Inc. MD bought a new stake in South Bow in the fourth quarter valued at $290,786,000. Vanguard Group Inc. acquired a new position in shares of South Bow during the fourth quarter valued at $206,467,000. Finally, Bank of Montreal Can bought a new position in shares of South Bow during the fourth quarter worth about $126,068,000.

South Bow Price Performance

South Bow stock opened at $23.88 on Friday. The firm has a fifty day simple moving average of $25.39. South Bow has a 52 week low of $21.98 and a 52 week high of $27.60. The firm has a market capitalization of $4.97 billion and a price-to-earnings ratio of 12.91.

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

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.37%. South Bow’s dividend payout ratio (DPR) is 108.11%.

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.