South Bow (NYSE:SOBO) Trading Down 5.9% – Should You Sell?

Shares of South Bow Co. (NYSE:SOBO) fell 5.9% on Thursday . The stock traded as low as $24.60 and last traded at $25.75. 147,247 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 698,427 shares. The stock had previously closed at $27.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Securities started coverage on shares of South Bow in a report on Wednesday, January 15th. They issued a “hold” rating on the stock. Scotiabank upped their target price on shares of South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $23.00 to $25.00 in a report on Thursday, January 9th. Tudor Pickering raised South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.50.

South Bow Stock Performance

The business’s fifty day moving average is $24.56. The firm has a market capitalization of $5.22 billion and a P/E ratio of 13.56.

South Bow (NYSE:SOBO) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. On average, equities analysts expect that South Bow Co. will post 1.74 EPS for the current fiscal year.

Institutional Trading of South Bow

A number of institutional investors have recently added to or reduced their stakes in the stock. Chelsea Counsel Co. acquired a new stake in shares of South Bow during the 4th quarter valued at approximately $208,000. B. Riley Wealth Advisors Inc. acquired a new stake in South Bow in the fourth quarter valued at $689,000. Polar Asset Management Partners Inc. purchased a new position in shares of South Bow in the fourth quarter valued at $590,000. Mackenzie Financial Corp acquired a new position in shares of South Bow during the 4th quarter worth $26,826,000. Finally, Centerstone Investors LLC acquired a new position in shares of South Bow during the 4th quarter worth $1,426,000.

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.