South Bow (NYSE:SOBO) Raised to Hold at Wall Street Zen

South Bow (NYSE:SOBO) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also recently commented on SOBO. Weiss Ratings reissued a “buy (b+)” rating on shares of South Bow in a research note on Thursday, June 11th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, May 11th. National Bank Financial boosted their price objective on South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce upped their target price on shares of South Bow from $33.00 to $36.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Finally, Barclays raised their target price on shares of South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, South Bow has a consensus rating of “Hold” and an average target price of $31.57.

South Bow Price Performance

South Bow stock opened at $37.86 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. South Bow has a 52-week low of $25.01 and a 52-week high of $38.45. The firm has a market cap of $7.90 billion, a PE ratio of 18.65 and a beta of 0.16. The company’s 50 day moving average is $36.62 and its two-hundred day moving average is $32.97.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.02). South Bow had a return on equity of 15.24% and a net margin of 21.32%.The business had revenue of $491.00 million during the quarter, compared to analyst estimates of $491.21 million. During the same quarter last year, the firm earned $0.47 EPS. The business’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that South Bow will post 1.77 EPS for the current fiscal year.

Institutional Investors Weigh In On South Bow

Several institutional investors have recently added to or reduced their stakes in SOBO. Steadtrust LLC grew its holdings in shares of South Bow by 0.9% during the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock worth $1,195,000 after purchasing an additional 300 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of South Bow by 10.0% during the fourth 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. Quantinno Capital Management LP lifted its holdings 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 valued at $264,000 after purchasing an additional 478 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of South Bow by 140.5% in the 1st quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares during the last quarter. Finally, apricus wealth LLC boosted its position in shares of South Bow by 4.1% in the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock valued at $506,000 after purchasing an additional 600 shares during the period.

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.