Brokerages Set South Bow Co. (NYSE:SOBO) PT at $25.00

Shares of South Bow Co. (NYSE:SOBO) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, one has assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.00.

Several research firms have recently commented on SOBO. Tudor Pickering raised South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Scotiabank upgraded South Bow to a “hold” rating in a report on Friday, December 27th. Jefferies Financial Group assumed coverage on South Bow in a report on Tuesday, October 8th. They set a “hold” rating for the company. CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and raised their target price for the company from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, TD Securities began coverage on shares of South Bow in a research note on Wednesday. They set a “hold” rating for the company.

Institutional Trading of South Bow

A number of hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB bought a new stake in South Bow in the fourth quarter valued at approximately $213,000. Nexus Investment Management ULC acquired a new position in shares of South Bow in the 4th quarter valued at $2,810,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of South Bow in the 4th quarter valued at $276,000.

South Bow Price Performance

Shares of South Bow stock opened at $23.19 on Tuesday. The firm has a 50 day moving average of $24.41. South Bow has a fifty-two week low of $21.12 and a fifty-two week high of $27.30.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.62%.

About South Bow

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.