South Bow (NYSE:SOBO) Downgraded by CIBC to “Neutral”

CIBC lowered shares of South Bow (NYSE:SOBO) from a sector outperform rating to a neutral rating in a research note issued to investors on Friday morning, Marketbeat reports. CIBC currently has $25.00 price target on the stock.

A number of other brokerages have also commented on SOBO. Wolfe Research lowered South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday. TD Securities started coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating on the stock. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Finally, Scotiabank lifted their price target on South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $25.67.

South Bow Stock Down 2.5 %

SOBO stock opened at $24.01 on Friday. South Bow has a twelve month low of $21.12 and a twelve month high of $27.60. The firm has a 50 day moving average of $24.58. The company has a market capitalization of $4.99 billion and a price-to-earnings ratio of 12.98.

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

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.33%. The ex-dividend date is Monday, March 31st. South Bow’s dividend payout ratio is currently 108.11%.

Institutional Trading of South Bow

A number of large investors have recently bought and sold shares of SOBO. Wiser Advisor Group LLC purchased a new stake in South Bow in the fourth quarter worth $27,000. Roxbury Financial LLC purchased a new position in shares of South Bow in the fourth quarter valued at $29,000. BNP Paribas Financial Markets purchased a new position in shares of South Bow in the fourth quarter valued at $29,000. Assetmark Inc. purchased a new position in shares of South Bow in the fourth quarter valued at $33,000. Finally, Rhumbline Advisers purchased a new position in shares of South Bow in the fourth quarter valued at $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.