National Bankshares Forecasts Strong Price Appreciation for South Bow (NYSE:SOBO) Stock

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

SOBO has been the subject of a number of other reports. Wells Fargo & Company lowered shares of South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. Tudor Pickering raised shares of South Bow to a "strong-buy" rating in a research report on Tuesday, November 19th. TD Securities began coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a "hold" rating on the stock. CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Friday. Finally, Scotiabank boosted their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.67.

South Bow Stock Up 1.7 %

NYSE SOBO traded up $0.41 on Friday, reaching $25.27. The company had a trading volume of 1,398,336 shares, compared to its average volume of 779,029. The firm has a market cap of $5.26 billion and a price-to-earnings ratio of 13.66. South Bow has a 1-year low of $21.12 and a 1-year high of $27.60. The stock's fifty day moving average price is $24.63.

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South Bow (NYSE:SOBO - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. Research analysts anticipate that South Bow will post 1.74 earnings per share for the current year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.91%. South Bow's payout ratio is 108.11%.

Institutional Investors Weigh In On South Bow

Institutional investors and hedge funds have recently modified their holdings of the company. Wiser Advisor Group LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $27,000. Roxbury Financial LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $29,000. BNP Paribas Financial Markets bought a new stake in shares of South Bow in the 4th quarter valued at about $29,000. Assetmark Inc. bought a new stake in shares of South Bow in the 4th quarter valued at about $33,000. Finally, Rhumbline Advisers bought a new stake in shares of South Bow in the 4th quarter valued at about $34,000.

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.