South Bow (NYSE:SOBO) Coverage Initiated at TD Securities

TD Securities assumed coverage on shares of South Bow (NYSE:SOBO) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a hold rating on the stock.

Several other research analysts have also issued reports on the company. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research note on Monday, October 28th. Morgan Stanley began coverage on South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. Jefferies Financial Group began coverage on South Bow in a 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 report on Tuesday, November 19th. Finally, Cibc World Mkts upgraded South Bow to a “hold” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, South Bow currently has an average rating of “Hold” and an average price target of $25.00.

South Bow Price Performance

South Bow stock opened at $22.93 on Wednesday. The business’s fifty day moving average is $24.42. South Bow has a 52-week low of $21.12 and a 52-week high of $27.30.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.72%. The ex-dividend date of this dividend is Tuesday, December 31st.

Hedge Funds Weigh In On South Bow

An institutional investor recently bought a new position in South Bow stock. Nexus Investment Management ULC purchased a new stake in South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 119,342 shares of the company’s stock, valued at approximately $2,810,000.

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.