South Bow Co. (NYSE:SOBO) Receives $25.00 Average PT from Brokerages

South Bow Co. (NYSE:SOBO) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.00.

Several equities research analysts recently issued reports on the company. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a report on Monday, October 28th. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and raised their price target for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. Cibc World Mkts upgraded shares of South Bow to a “hold” rating in a report on Friday, October 11th. Finally, Scotiabank upgraded shares of South Bow to a “hold” rating in a research note on Friday, December 27th.

Hedge Funds Weigh In On South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nexus Investment Management ULC purchased a new position in South Bow in the fourth quarter valued at approximately $2,810,000. Viking Fund Management LLC bought a new stake in shares of South Bow in the fourth quarter valued at $740,000. Mutual Advisors LLC bought a new stake in shares of South Bow in the fourth quarter valued at $517,000. Hennessy Advisors Inc. purchased a new position in shares of South Bow during the 4th quarter valued at $276,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in shares of South Bow during the 4th quarter worth $213,000.

South Bow Price Performance

Shares of SOBO opened at $24.11 on Tuesday. South Bow has a 52 week low of $21.12 and a 52 week high of $27.30. The business’s 50 day moving average is $24.40.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date is Tuesday, December 31st.

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.