South Bow (NYSE:SOBO) Research Coverage Started at TD Securities

TD Securities initiated coverage on shares of South Bow (NYSE:SOBO) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

Several other equities research analysts have also recently weighed in on the company. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. US Capital Advisors upgraded shares of South Bow to a “strong-buy” rating in a research note on Monday, October 28th. Jefferies Financial Group began coverage on shares of South Bow in a research note on Tuesday, October 8th. They set a “hold” rating on the stock. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley started coverage on South Bow in a research report on Friday, October 25th. They issued an “underweight” rating on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

South Bow Stock Up 3.8 %

Shares of SOBO opened at $24.11 on Wednesday. The business has a 50-day moving average of $24.42. South Bow has a one year low of $21.12 and a one year high of $27.30.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 8.30%.

Institutional Investors Weigh In On South Bow

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