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

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

A number of other analysts have also recently weighed in on the company. Scotiabank raised their price target on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research note on Friday. Wolfe Research cut South Bow from an “outperform” rating to a “peer 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 target for the company. in a report on Friday. TD Securities initiated coverage on shares of South Bow in a report on Wednesday, January 15th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.67.

South Bow Stock Down 2.5 %

South Bow stock opened at $24.01 on Friday. The stock has a market capitalization of $4.99 billion and a price-to-earnings ratio of 12.98. South Bow has a twelve month low of $21.12 and a twelve month high of $27.60. The stock’s fifty day moving average is $24.58.

South Bow (NYSE:SOBO) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to analysts’ expectations of $524.87 million. On average, equities research analysts expect that South Bow will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a dividend yield of 8.33%. The ex-dividend date of this dividend is Monday, March 31st. South Bow’s payout ratio is currently 108.11%.

Hedge Funds Weigh In On South Bow

A number of institutional investors have recently modified their holdings of SOBO. Chelsea Counsel Co. purchased a new position in shares of South Bow during the fourth quarter worth about $208,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $689,000. Polar Asset Management Partners Inc. purchased a new position in shares of South Bow in the 4th quarter valued at approximately $590,000. Mackenzie Financial Corp acquired a new position in shares of South Bow in the fourth quarter valued at approximately $26,826,000. Finally, Centerstone Investors LLC purchased a new stake in shares of South Bow during the fourth quarter worth approximately $1,426,000.

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.