South Bow (NYSE:SOBO) Stock Price Expected to Rise, Scotiabank Analyst Says

South Bow (NYSE:SOBO - Free Report) had its price target hoisted by Scotiabank from $26.00 to $27.00 in a research report report published on Friday, MarketBeat.com reports. Scotiabank currently has a sector perform rating on the stock.

SOBO has been the subject of several other research reports. CIBC downgraded South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Friday. Tudor Pickering upgraded South Bow to a "strong-buy" rating in a research report on Tuesday, November 19th. Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a research report on Friday. Finally, TD Securities began coverage on South Bow in a research report on Wednesday, January 15th. They set a "hold" rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $25.67.

South Bow Trading Down 2.5 %

Shares of NYSE:SOBO traded down $0.62 during midday trading on Friday, hitting $24.01. 928,495 shares of the stock were exchanged, compared to its average volume of 735,409. The company has a market capitalization of $4.99 billion and a PE ratio of 12.98. South Bow has a twelve month low of $21.12 and a twelve month high of $27.60. The firm has a 50 day simple moving average of $24.58.

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South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $524.87 million. As a group, sell-side analysts anticipate that South Bow will post 1.74 earnings per share for the current year.

South Bow Announces Dividend

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

Institutional Trading of South Bow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC purchased a new stake in South Bow in the 4th quarter valued at about $461,249,000. Capital International Investors purchased a new stake in South Bow in the 4th quarter valued at about $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in South Bow in the 4th quarter valued at about $290,786,000. Vanguard Group Inc. purchased a new stake in South Bow in the 4th quarter valued at about $206,467,000. Finally, Bank of Montreal Can purchased a new stake in South Bow in the 4th quarter valued at about $126,068,000.

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.