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

South Bow (NYSE:SOBO) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Friday, Marketbeat Ratings reports.

SOBO has been the topic of several other reports. Scotiabank increased their target price on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th. TD Securities began coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a “hold” rating on the stock. CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, South Bow has a consensus rating of “Hold” and a consensus target price of $25.67.

South Bow Stock Performance

NYSE:SOBO opened at $24.01 on Friday. The company has a market cap of $4.99 billion and a price-to-earnings ratio of 12.98. South Bow has a 52 week low of $21.12 and a 52 week high of $27.60. The company has a fifty day moving average price of $24.58.

South Bow (NYSE:SOBO) last issued its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. As a group, equities analysts expect that South Bow will post 1.74 EPS for the current year.

Institutional Trading of South Bow

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC purchased a new stake in shares of South Bow in the fourth quarter valued at about $461,249,000. Capital International Investors purchased a new stake in shares of South Bow in the fourth quarter valued at about $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of South Bow in the fourth quarter valued at about $290,786,000. Vanguard Group Inc. purchased a new stake in shares of South Bow in the fourth quarter valued at about $206,467,000. Finally, Bank of Montreal Can purchased a new stake in shares of South Bow in the fourth quarter valued at about $126,068,000.

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.