TD Securities Begins Coverage on South Bow (NYSE:SOBO)

TD Securities started coverage on shares of South Bow (NYSE:SOBO) in a research note released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating on the stock.

Several other research firms also recently weighed in on SOBO. Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Morgan Stanley started coverage on shares of South Bow in a report on Friday, October 25th. They issued an “underweight” rating for the company. Cibc World Mkts raised shares of South Bow to a “hold” rating in a report on Friday, October 11th. Jefferies Financial Group started coverage on shares of South Bow in a research report on Tuesday, October 8th. They issued a “hold” rating for the company. Finally, CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, South Bow presently has a consensus rating of “Hold” and a consensus target price of $25.00.

South Bow Price Performance

Shares of NYSE SOBO opened at $24.11 on Wednesday. South Bow has a 12-month low of $21.12 and a 12-month high of $27.30. The firm’s 50 day simple moving average is $24.42.

South Bow Dividend Announcement

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

Hedge Funds Weigh In On South Bow

Several institutional investors have recently bought and sold shares of SOBO. MassMutual Private Wealth & Trust FSB bought a new position in shares of South Bow during the 4th quarter valued at about $213,000. Hennessy Advisors Inc. bought a new stake in shares of South Bow in the fourth quarter worth about $276,000. Mutual Advisors LLC purchased a new stake in shares of South Bow in the fourth quarter worth about $517,000. Viking Fund Management LLC bought a new position in South Bow during the fourth quarter valued at approximately $740,000. Finally, Nexus Investment Management ULC purchased a new position in South Bow during the 4th quarter valued at approximately $2,810,000.

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.