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

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

A number of other analysts have also recently weighed in on SOBO. Royal Bank of Canada reaffirmed an “outperform” rating on shares of South Bow in a report on Friday, March 7th. Wolfe Research cut South Bow from an “outperform” rating to a “peer perform” rating in a report on Friday, March 7th. National Bankshares increased their price objective on South Bow from $24.00 to $25.00 and gave the stock a “sector perform” rating in a report on Friday, March 7th. Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Finally, Scotiabank increased their price target on South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.25.

South Bow Price Performance

NYSE:SOBO opened at $26.18 on Friday. The company’s 50 day moving average is $25.31. The company has a market capitalization of $5.45 billion and a price-to-earnings ratio of 14.15. South Bow has a 52 week low of $21.98 and a 52 week high of $27.60.

South Bow (NYSE:SOBO) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $488.00 million for the quarter, compared to the consensus estimate of $524.87 million. On average, sell-side analysts forecast that South Bow will post 1.74 EPS for the current fiscal year.

South Bow Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given 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 dividend yield of 7.64%. South Bow’s dividend payout ratio (DPR) is 108.11%.

Institutional Trading of South Bow

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

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.