South Bow (NYSE:SOBO) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of South Bow (NYSE:SOBO) in a research note published on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $28.00 price objective on the stock.

SOBO has been the subject of several other research reports. CIBC cut 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, March 7th. National Bankshares increased their price target on shares of South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Wolfe Research cut shares of South Bow from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 7th. TD Securities initiated coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating for the company. Finally, Scotiabank lifted their target price on South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a report on Friday, March 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $26.25.

South Bow Trading Up 0.6 %

Shares of NYSE:SOBO opened at $26.18 on Friday. The company’s fifty day moving average is $25.31. The firm has a market cap of $5.45 billion and a PE ratio of 14.15. South Bow has a one year low of $21.98 and a one year high of $27.60.

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, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $524.87 million. As a group, equities analysts anticipate that South Bow will post 1.74 EPS for the current year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 7.64%. South Bow’s dividend payout ratio is presently 108.11%.

Hedge Funds Weigh In On South Bow

Several institutional investors and hedge funds have recently made changes to their positions in the business. Roxbury Financial LLC acquired a new stake in South Bow in the fourth quarter valued at $29,000. Wiser Advisor Group LLC bought a new stake in shares of South Bow in the 4th quarter worth about $27,000. BNP Paribas Financial Markets bought a new stake in shares of South Bow in the 4th quarter worth about $29,000. Assetmark Inc. bought a new position in shares of South Bow during the fourth quarter worth about $33,000. Finally, Sit Investment Associates Inc. bought a new position in shares of South Bow during the fourth quarter worth 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.