South Bow (NYSE:SOBO) Stock Moved Down to Sell by Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of South Bow (NYSE:SOBO – Free Report) from a hold rating to a sell rating in a report issued on Saturday,Wall Street Zen reports.

SOBO has been the subject of several other research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of South Bow in a research note on Wednesday. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, July 6th. TD Securities reissued a “hold” rating on shares of South Bow in a research note on Thursday, July 16th. Scotiabank increased their price objective on South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings downgraded South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, September 8th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $32.67.

Check Out Our Latest Stock Report on SOBO

South Bow Trading Up 2.8%

Shares of SOBO opened at $34.68 on Friday. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 15.69 and a beta of 0.22. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. South Bow has a 1-year low of $25.01 and a 1-year high of $39.02. The company has a 50-day moving average of $35.72 and a 200 day moving average of $35.66.

South Bow (NYSE:SOBO – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $546.00 million during the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a net margin of 22.99% and a return on equity of 15.84%. On average, research analysts expect that South Bow will post 1.87 EPS for the current year.

South Bow Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Tuesday, September 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, September 29th. South Bow’s payout ratio is presently 90.50%.

Institutional Trading of South Bow

A number of hedge funds have recently added to or reduced their stakes in SOBO. Thornburg Investment Management Inc. increased its position in South Bow by 2.4% during the 2nd quarter. Thornburg Investment Management Inc. now owns 3,721,332 shares of the company’s stock valued at $130,974,000 after purchasing an additional 88,457 shares during the period. Cibc World Market Inc. purchased a new stake in shares of South Bow in the 2nd quarter worth approximately $119,802,000. Dimensional Fund Advisors LP lifted its position in shares of South Bow by 24.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after purchasing an additional 565,787 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of South Bow during the second quarter valued at approximately $97,830,000. Finally, Bank of America Corp DE bought a new position in shares of South Bow during the second quarter valued at approximately $97,176,000.

About South Bow

(Get Free Report)

South Bow Corp. (NYSE: SOBO) is a midstream energy company focused on the transportation and handling of crude oil. The company owns and operates liquids pipeline infrastructure that connects Western Canadian production with refining and export markets in the United States.

Its principal asset is the Keystone Pipeline System, which transports crude oil from Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. South Bow also operates related gathering, transportation and storage assets that support producers, refiners and other customers across the North American energy network.

South Bow was established as an independent publicly traded company through the separation of TC Energy’s liquids pipelines business, which was completed in 2024.

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