South Bow (NYSE:SOBO) Cut to Strong Sell at Wells Fargo & Company

Wells Fargo & Company lowered shares of South Bow (NYSE:SOBO) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on SOBO. Jefferies Financial Group began coverage on shares of South Bow in a research report on Tuesday, October 8th. They set a “hold” rating for the company. Morgan Stanley started coverage on South Bow in a 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 report on Monday, October 28th. Cibc World Mkts raised South Bow to a “hold” rating in a report 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, two have assigned a hold rating and two have given a strong buy rating to the company. According to data from MarketBeat, South Bow currently has a consensus rating of “Hold”.

South Bow Stock Up 1.5 %

Shares of NYSE SOBO opened at $23.78 on Wednesday. The company’s 50 day simple moving average is $24.66. South Bow has a 12 month low of $21.12 and a 12 month high of $27.30.

South Bow Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 8.41%. South Bow’s dividend payout ratio is presently 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.