Wolfe Research Downgrades South Bow (NYSE:SOBO) to Peer Perform

Wolfe Research downgraded shares of South Bow (NYSE:SOBO - Free Report) from an outperform rating to a peer perform rating in a research report sent to investors on Friday, Marketbeat reports.

A number of other equities analysts have also recently commented on SOBO. Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. Tudor Pickering raised shares of South Bow to a "strong-buy" rating in a research note on Tuesday, November 19th. CIBC upgraded shares of South Bow from a "neutral" rating to an "outperform" rating and upped their price target for the company from $23.00 to $25.00 in a report on Thursday, January 9th. TD Securities started coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a "hold" rating on the stock. Finally, Scotiabank upped their price objective on shares of South Bow from $24.00 to $26.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.67.

South Bow Stock Up 1.7 %

Shares of SOBO traded up $0.41 during midday trading on Friday, reaching $25.27. The stock had a trading volume of 1,398,336 shares, compared to its average volume of 779,029. The firm has a market capitalization of $5.26 billion and a P/E ratio of 13.66. The business has a 50-day moving average price of $24.60. South Bow has a 12-month low of $21.12 and a 12-month high of $27.60.

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South Bow (NYSE:SOBO - Get Free Report) last posted its quarterly 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 business had revenue of $488.00 million for the quarter, compared to analysts' expectations of $524.87 million. As a group, equities analysts forecast that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.91%. South Bow's dividend payout ratio (DPR) is presently 108.11%.

Institutional Trading of South Bow

Several large investors have recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in shares of South Bow in the 4th quarter valued at approximately $29,000. Wiser Advisor Group LLC bought a new position in South Bow in the fourth quarter worth $27,000. BNP Paribas Financial Markets purchased a new position in South Bow during the fourth quarter valued at $29,000. Assetmark Inc. bought a new stake in shares of South Bow during the 4th quarter valued at $33,000. Finally, Sit Investment Associates Inc. purchased a new stake in shares of South Bow in the 4th quarter worth 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.