South Bow (NYSE:SOBO – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.
A number of other brokerages have also recently commented on SOBO. Jefferies Financial Group restated a “buy” rating on shares of South Bow in a research report on Thursday, May 28th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research report on Monday, July 6th. Scotiabank boosted their price objective on South Bow from $36.00 to $39.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 21st. National Bank Financial increased their target price on shares of South Bow from $31.00 to $35.00 and gave the stock a “sector perform” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, South Bow has an average rating of “Hold” and a consensus target price of $33.00.
Get Our Latest Stock Analysis on South Bow
South Bow Trading Up 0.0%
South Bow (NYSE:SOBO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. South Bow had a return on equity of 15.84% and a net margin of 22.99%.The firm had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. As a group, equities analysts anticipate that South Bow will post 1.88 earnings per share for the current year.
Hedge Funds Weigh In On South Bow
Several large investors have recently made changes to their positions in SOBO. Steadtrust LLC boosted its holdings in shares of South Bow by 0.9% during the 2nd quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after purchasing an additional 300 shares during the last quarter. Parallel Advisors LLC grew its position in shares of South Bow by 140.5% during the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares in the last quarter. apricus wealth LLC increased its holdings in shares of South Bow by 4.1% in the first quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock worth $506,000 after purchasing an additional 600 shares during the last quarter. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of South Bow by 14.3% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 5,882 shares of the company’s stock worth $207,000 after purchasing an additional 738 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of South Bow by 78.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,893 shares of the company’s stock worth $63,000 after buying an additional 831 shares in the last quarter.
About South Bow
South Bow Corporation is a North American crude oil transportation and storage company headquartered in Calgary, Alberta. The company owns and operates infrastructure that moves crude oil from producing regions in Western Canada to refining and export markets in the United States.
South Bow’s principal asset is the Keystone Pipeline System, which connects oil supplies from the Western Canadian Sedimentary Basin with refineries and storage hubs in the U.S. Midwest and along the U.S. Gulf Coast.
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