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

Wolfe Research cut shares of South Bow (NYSE:SOBO) from an outperform rating to a peer perform rating in a report published on Friday, MarketBeat reports.

Several other equities analysts have also weighed in on the company. TD Securities initiated coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Scotiabank boosted their price objective on South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Tudor Pickering raised shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.67.

South Bow Trading Down 2.5 %

South Bow stock opened at $24.01 on Friday. The stock has a market cap of $4.99 billion and a price-to-earnings ratio of 12.98. South Bow has a 12 month low of $21.12 and a 12 month high of $27.60. The stock has a 50 day moving average of $24.58.

South Bow (NYSE:SOBO) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $524.87 million. As a group, sell-side analysts forecast that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company 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 of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.33%. South Bow’s payout ratio is currently 108.11%.

Institutional Investors Weigh In On South Bow

Large investors have recently modified their holdings of the business. Hennessy Advisors Inc. purchased a new position in shares of South Bow in the fourth quarter worth about $276,000. Nexus Investment Management ULC acquired a new stake in South Bow in the 4th quarter valued at about $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in South Bow in the 4th quarter worth approximately $213,000. Viking Fund Management LLC acquired a new position in shares of South Bow during the 4th quarter worth approximately $740,000. Finally, Mutual Advisors LLC purchased a new stake in shares of South Bow in the fourth quarter valued at approximately $517,000.

South Bow Company Profile

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.