South Bow (NYSE:SOBO) Price Target Raised to $25.00

South Bow (NYSE:SOBO) had its target price upped by National Bankshares from $24.00 to $25.00 in a report issued on Friday morning,BayStreet.CA reports. National Bankshares currently has a sector perform rating on the stock.

Several other research firms have also commented on SOBO. TD Securities started coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. Tudor Pickering raised South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Scotiabank raised their price objective on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday. CIBC downgraded South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday. Finally, Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.67.

South Bow Stock Performance

SOBO stock opened at $24.01 on Friday. The firm has a 50-day moving average price of $24.58. The company has a market capitalization of $4.99 billion and a P/E ratio of 12.98. South Bow has a fifty-two week low of $21.12 and a fifty-two week high of $27.60.

South Bow (NYSE:SOBO) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analysts’ expectations of $524.87 million. On average, sell-side analysts anticipate that South Bow will post 1.74 EPS for the current year.

South Bow Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date is Monday, March 31st. South Bow’s dividend payout ratio (DPR) is currently 108.11%.

Hedge Funds Weigh In On South Bow

Hedge funds have recently modified their holdings of the stock. Mutual Advisors LLC bought a new position in South Bow during the fourth quarter valued at approximately $517,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow during the 4th quarter worth approximately $6,787,000. Cibc World Market Inc. bought a new position in shares of South Bow during the 4th quarter valued at approximately $47,533,000. Meixler Investment Management Ltd. purchased a new position in shares of South Bow in the fourth quarter valued at $683,000. Finally, Alberta Investment Management Corp bought a new stake in South Bow in the fourth quarter worth $3,498,000.

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.