South Bow (NYSE:SOBO) Given New $33.00 Price Target at Barclays

South Bow (NYSE:SOBO) had its price target hoisted by analysts at Barclays from $27.00 to $33.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 1.55% from the company’s current price.

A number of other brokerages have also recently commented on SOBO. National Bank Financial upped their price target on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Scotiabank boosted their price objective on shares of South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Weiss Ratings raised shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, BMO Capital Markets restated a “market perform” rating on shares of South Bow in a research report on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.43.

South Bow Trading Up 0.2%

SOBO stock traded up $0.07 during midday trading on Monday, reaching $33.52. The company’s stock had a trading volume of 164,611 shares, compared to its average volume of 953,739. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow has a 52 week low of $21.16 and a 52 week high of $34.01. The business’s 50-day simple moving average is $28.97 and its 200-day simple moving average is $27.92. The stock has a market cap of $6.98 billion, a PE ratio of 16.12 and a beta of 0.29.

South Bow (NYSE:SOBO) last released its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19. South Bow had a return on equity of 15.69% and a net margin of 21.80%.The firm had revenue of $503.00 million for the quarter, compared to analyst estimates of $500.57 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that South Bow will post 1.74 EPS for the current year.

Institutional Investors Weigh In On South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parkside Financial Bank & Trust increased its holdings in South Bow by 10.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares in the last quarter. Aviso Financial Inc. grew its holdings in shares of South Bow by 8.2% during the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after buying an additional 394 shares in the last quarter. Quantinno Capital Management LP raised its position in South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after buying an additional 478 shares during the last quarter. LPL Financial LLC raised its position in South Bow by 1.6% in the 4th quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock valued at $1,058,000 after buying an additional 615 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares in the last quarter.

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.