South Bow Co. (NYSE:SOBO) Receives Average Rating of “Hold” from Brokerages

Shares of South Bow Co. (NYSE:SOBO) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $25.00.

Several equities research analysts recently commented on SOBO shares. Cibc World Mkts upgraded shares of South Bow to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley initiated coverage on South Bow in a research report on Friday, October 25th. They issued an “underweight” rating for the company. Jefferies Financial Group initiated coverage on South Bow in a research report on Tuesday, October 8th. They set a “hold” rating on the stock. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and upped their target price for the company from $23.00 to $25.00 in a report on Thursday, January 9th.

South Bow Stock Down 2.4 %

SOBO stock opened at $23.25 on Tuesday. South Bow has a one year low of $21.12 and a one year high of $27.30. The firm’s 50-day moving average price is $24.43.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 8.60%. The ex-dividend date of this dividend is Tuesday, December 31st. South Bow’s payout ratio is presently 114.29%.

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.