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

South Bow Co. (NYSE:SOBO) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

Several brokerages have recently issued reports on SOBO. TD Securities assumed coverage on shares of South Bow in a research report on Wednesday. They set a “hold” rating for the company. Jefferies Financial Group began coverage on South Bow in a report on Tuesday, October 8th. They set a “hold” rating for the company. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Thursday, January 9th. Finally, Scotiabank upgraded South Bow to a “hold” rating in a research note on Friday, December 27th.

South Bow Price Performance

NYSE SOBO opened at $23.19 on Tuesday. The business’s 50 day simple moving average is $24.41. South Bow has a 52-week low of $21.12 and a 52-week high of $27.30.

South Bow Announces Dividend

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

Institutional Trading of South Bow

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

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.