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

South Bow (NYSE:SOBO) had its target price hoisted by National Bankshares from $24.00 to $25.00 in a research note published on Friday,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities research analysts have also issued reports about the stock. Wolfe Research lowered shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Scotiabank increased their price target on shares of South Bow from $26.00 to $27.00 and gave the company a “sector perform” rating in a research report on Friday. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, TD Securities began coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and an average price target of $25.67.

South Bow Stock Performance

Shares of South Bow stock opened at $24.01 on Friday. The firm has a 50-day moving average of $24.58. South Bow has a 12-month low of $21.12 and a 12-month high of $27.60. The stock has a market capitalization of $4.99 billion and a PE ratio of 12.98.

South Bow (NYSE:SOBO) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $524.87 million. On average, research analysts predict that South Bow will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 108.11%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Wiser Advisor Group LLC purchased a new stake in shares of South Bow in the fourth quarter valued at $27,000. Roxbury Financial LLC purchased a new position in South Bow during the fourth quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in South Bow in the 4th quarter worth about $29,000. Assetmark Inc. purchased a new stake in South Bow in the 4th quarter valued at about $33,000. Finally, Rhumbline Advisers acquired a new position in shares of South Bow during the 4th quarter valued at about $34,000.

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.