South Bow (NYSE:SOBO) Upgraded to “Strong Sell” at The Goldman Sachs Group

South Bow (NYSE:SOBO) was upgraded by equities research analysts at The Goldman Sachs Group to a “strong sell” rating in a research report issued to clients and investors on Sunday,Zacks.com reports.

Several other analysts also recently weighed in on the company. National Bank Financial lifted their price objective on South Bow from $29.00 to $30.00 and gave the company a “sector perform” rating in a report on Monday, March 16th. Barclays lifted their price objective on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Monday, March 9th. Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price objective for the company. in a report on Wednesday, January 14th. Scotiabank lifted their price objective on South Bow from $30.00 to $34.00 and gave the company a “sector perform” rating in a report on Friday, March 6th. Finally, Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $30.38.

South Bow Stock Down 1.9%

NYSE:SOBO opened at $31.47 on Friday. South Bow has a twelve month low of $23.96 and a twelve month high of $34.90. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 15.13 and a beta of 0.15. The stock has a fifty day simple moving average of $32.57 and a 200-day simple moving average of $29.10. The company has a current ratio of 1.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.13.

South Bow (NYSE:SOBO) last released its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.21. The business had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. South Bow had a return on equity of 15.55% and a net margin of 21.80%.The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Analysts anticipate that South Bow will post 1.87 EPS for the current year.

Hedge Funds Weigh In On South Bow

A number of large investors have recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in South Bow by 10.0% in 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. Aviso Financial Inc. raised its holdings in South Bow by 8.2% in the third quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock worth $147,000 after purchasing an additional 394 shares in the last quarter. Quantinno Capital Management LP raised its holdings in South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after purchasing an additional 478 shares in the last quarter. LPL Financial LLC raised its holdings in South Bow by 1.6% in the fourth quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after purchasing an additional 615 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing 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.