Shares of South Bow Co. (NYSE:SOBO – Get Free Report) have been assigned an average recommendation of “Hold” from the nine brokerages that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.00.
Several analysts have recently weighed in on SOBO shares. TD Securities initiated coverage on South Bow in a report on Wednesday. They issued a “hold” rating for the company. Scotiabank raised South Bow to a “hold” rating in a report on Friday, December 27th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Jefferies Financial Group began coverage on South Bow in a research report on Tuesday, October 8th. They set a “hold” rating on the stock. Finally, US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research report on Monday, October 28th.
Check Out Our Latest Report on South Bow
South Bow Price Performance
South Bow Dividend Announcement
The firm also recently declared 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 8.30%. The ex-dividend date of this dividend is Tuesday, December 31st.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nexus Investment Management ULC purchased a new stake in South Bow in the 4th quarter worth approximately $2,810,000. Viking Fund Management LLC purchased a new position in South Bow in the fourth quarter valued at about $740,000. Mutual Advisors LLC acquired a new position in South Bow in the 4th quarter worth about $517,000. Hennessy Advisors Inc. acquired a new position in South Bow in the 4th quarter worth about $276,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of South Bow during the 4th quarter worth about $213,000.
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.
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