South Bow (NYSE:SOBO) Stock Rating Lowered by CIBC

South Bow (NYSE:SOBO) was downgraded by CIBC from a “sector outperform” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports.

Other equities analysts have also recently issued reports about the stock. Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating for the company. Scotiabank lifted their price objective on South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $25.50.

South Bow Stock Performance

SOBO stock opened at $24.65 on Friday. South Bow has a twelve month low of $21.12 and a twelve month high of $27.60. The firm has a market cap of $5.13 billion and a P/E ratio of 13.32. The company has a fifty day moving average of $24.57.

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 analysts’ consensus estimates 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. Analysts predict that South Bow will post 1.74 EPS for the current year.

Hedge Funds Weigh In On South Bow

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