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

JPMorgan Chase & Co. began coverage on shares of South Bow (NYSE:SOBO) in a research report sent to investors on Friday, Marketbeat Ratings reports. The firm issued a neutral rating and a $28.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. CIBC cut South Bow from a “sector outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Friday, March 7th. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Wolfe Research downgraded shares of South Bow from an “outperform” rating to a “peer perform” rating in a research report on Friday, March 7th. Scotiabank lifted their price target on shares of South Bow from $26.00 to $27.00 and gave the stock a “sector perform” rating in a research report on Friday, March 7th. Finally, TD Securities assumed coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.25.

South Bow Trading Up 0.6 %

Shares of NYSE:SOBO opened at $26.18 on Friday. The company has a market cap of $5.45 billion and a price-to-earnings ratio of 14.15. South Bow has a 12 month low of $21.98 and a 12 month high of $27.60. The stock’s 50-day moving average is $25.31.

South Bow (NYSE:SOBO) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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. As a group, analysts expect that South Bow will post 1.74 EPS for the current year.

South Bow Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 7.64%. The ex-dividend date is Monday, March 31st. South Bow’s payout ratio is 108.11%.

Institutional Investors Weigh In On South Bow

Several large investors have recently bought and sold shares of SOBO. FMR LLC bought a new position in shares of South Bow during the fourth quarter worth $461,249,000. Capital International Investors bought a new position in South Bow during the fourth quarter worth about $315,469,000. Price T Rowe Associates Inc. MD acquired a new position in South Bow in the fourth quarter valued at about $290,786,000. Vanguard Group Inc. bought a new stake in shares of South Bow in the fourth quarter worth about $206,467,000. Finally, Bank of Montreal Can acquired a new stake in shares of South Bow during the fourth quarter worth about $126,068,000.

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.