Scotiabank Increases South Bow (NYSE:SOBO) Price Target to $27.00

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

Several other research firms have also recently weighed in on SOBO. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday. TD Securities initiated coverage on South Bow in a report on Wednesday, January 15th. They issued a “hold” rating on the stock. CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Friday. Finally, Tudor Pickering raised South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $25.67.

South Bow Price Performance

NYSE SOBO opened at $24.01 on Friday. The company’s fifty day moving average price is $24.58. The company has a market cap of $4.99 billion and a PE ratio of 12.98. South Bow has a 1-year low of $21.12 and a 1-year high of $27.60.

South Bow (NYSE:SOBO) last released 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 firm had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. As a group, analysts expect that South Bow will post 1.74 EPS for the current fiscal 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 paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.33%. South Bow’s payout ratio is presently 108.11%.

Institutional Investors Weigh In On South Bow

A number of institutional investors have recently bought and sold shares of the business. Roxbury Financial LLC purchased a new stake in South Bow in the 4th quarter worth $29,000. Wiser Advisor Group LLC purchased a new position in shares of South Bow during the fourth quarter valued at about $27,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow during the fourth quarter valued at about $29,000. Assetmark Inc. purchased a new position in shares of South Bow during the fourth quarter valued at about $33,000. Finally, Sit Investment Associates Inc. purchased a new position in shares of South Bow during the fourth 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.