South Bow (NYSE:SOBO) Downgraded by Wells Fargo & Company to “Strong Sell”

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

SOBO has been the subject of a number of other research reports. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a report on Monday, October 28th. Morgan Stanley assumed coverage on South Bow in a research note on Friday, October 25th. They set an “underweight” rating for the company. 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. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Cibc World Mkts raised shares of South Bow to a “hold” rating in a research report on Friday, October 11th. 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 MarketBeat, South Bow currently has a consensus rating of “Hold”.

South Bow Stock Up 2.7 %

Shares of NYSE:SOBO opened at $23.42 on Wednesday. The firm has a fifty day simple moving average of $24.65. South Bow has a 52 week low of $21.12 and a 52 week high of $27.30.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.54%. South Bow’s dividend payout ratio is currently 114.29%.

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.