Barclays Issues Positive Forecast for South Bow (NYSE:SOBO) Stock Price

South Bow (NYSE:SOBO) had its price objective boosted by Barclays from $33.00 to $34.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 6.74% from the company’s current price.

SOBO has been the subject of a number of other reports. Canadian Imperial Bank of Commerce dropped their price target on shares of South Bow from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. Weiss Ratings cut South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Scotiabank upped their target price on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Raymond James Financial reiterated an “outperform” rating on shares of South Bow in a research note on Wednesday, October 14th. Finally, TD Securities reaffirmed a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, South Bow has a consensus rating of “Hold” and a consensus target price of $32.67.

South Bow Trading Down 6.5%

NYSE:SOBO traded down $2.20 during trading hours on Thursday, hitting $31.85. The company had a trading volume of 487,147 shares, compared to its average volume of 858,328. The company has a market cap of $6.64 billion, a P/E ratio of 14.38 and a beta of 0.17. The company has a current ratio of 1.52, a quick ratio of 1.44 and a debt-to-equity ratio of 2.15. South Bow has a 1 year low of $25.43 and a 1 year high of $39.02. The company has a 50-day moving average of $35.21 and a 200 day moving average of $34.48.

South Bow (NYSE:SOBO) last posted its earnings results on Wednesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.04. The firm had revenue of $503.00 million during the quarter, compared to the consensus estimate of $476.02 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. Sell-side analysts expect that South Bow will post 1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its position in shares of South Bow by 3.6% during the third quarter. Alps Advisors Inc. now owns 46,781 shares of the company’s stock worth $1,550,000 after acquiring an additional 1,646 shares during the last quarter. apricus wealth LLC grew its stake in South Bow by 4.2% in the 3rd quarter. apricus wealth LLC now owns 16,000 shares of the company’s stock valued at $530,000 after buying an additional 650 shares during the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of South Bow by 6.8% during the third quarter. Miller Howard Investments Inc. NY now owns 530,682 shares of the company’s stock worth $17,581,000 after purchasing an additional 33,746 shares during the period. Baskin Financial Services Inc. bought a new position in South Bow during the 3rd quarter worth $1,171,000. Finally, IFP Advisors Inc increased its position in South Bow by 202.6% during the third quarter. IFP Advisors Inc now owns 2,454 shares of the company’s stock worth $81,000 after acquiring an additional 1,643 shares during the period.

South Bow News Summary

Here are the key news stories impacting South Bow this week:

• Positive Sentiment: South Bow reported third-quarter adjusted earnings of $0.47 per share, above the $0.43 analyst consensus, and revenue of $503 million versus expectations of about $476 million. Net income was reported at $99 million and higher year over year. South Bow Q3 results
• Positive Sentiment: The company beat Q3 estimates and raised its full-year cash-flow guidance, which may support confidence in its operating performance and ability to fund shareholder returns. South Bow beats estimates and raises cash-flow guidance
• Positive Sentiment: South Bow declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annually and a stated yield of 6.0%. The dividend is payable January 15 to shareholders of record December 31. Dividend and earnings announcement
• Neutral Sentiment: While earnings per share topped estimates, they were unchanged from $0.47 a year earlier, making the year-over-year earnings picture less uniformly strong. Q3 earnings and revenue beat estimates

About South Bow

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.