South Bow (NYSE:SOBO) Now Covered by Analysts at TD Securities

TD Securities assumed coverage on shares of South Bow (NYSE:SOBO) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a hold rating on the stock.

SOBO has been the subject of a number of other research reports. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. Wells Fargo & Company cut South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Morgan Stanley initiated coverage on South Bow in a research report on Friday, October 25th. They issued an “underweight” rating for the company. US Capital Advisors raised South Bow to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group initiated coverage on South Bow in a research report on Tuesday, October 8th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, South Bow presently has an average rating of “Hold” and an average target price of $25.00.

South Bow Price Performance

Shares of South Bow stock opened at $22.93 on Wednesday. The stock’s 50 day moving average is $24.42. South Bow has a 12-month low of $21.12 and a 12-month high of $27.30.

South Bow Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.72%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in South Bow stock. Hennessy Advisors Inc. bought a new stake in South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,700 shares of the company’s stock, valued at approximately $276,000.

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.