South Bow (NYSE:SOBO) Rating Increased to Outperform at CIBC

CIBC upgraded shares of South Bow (NYSE:SOBO) from a neutral rating to an outperform rating in a research report report published on Thursday morning,BayStreet.CA reports. The firm currently has $25.00 price objective on the stock, up from their prior price objective of $23.00.

Several other research firms have also recently commented on SOBO. US Capital Advisors raised South Bow to a “strong-buy” rating in a report on Monday, October 28th. Scotiabank upgraded South Bow to a “hold” rating in a report on Friday, December 27th. Morgan Stanley initiated coverage on shares of South Bow in a report on Friday, October 25th. They issued an “underweight” rating for the company. Cibc World Mkts raised shares of South Bow to a “hold” rating in a research note on Friday, October 11th. Finally, Tudor Pickering raised shares of South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, South Bow has a consensus rating of “Hold” and an average price target of $25.00.

South Bow Price Performance

Shares of NYSE SOBO opened at $23.30 on Thursday. South Bow has a 12-month low of $21.12 and a 12-month high of $27.30. The company’s 50-day simple moving average is $24.46.

South Bow Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.58%. South Bow’s payout ratio is currently 114.29%.

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.