South Bow (NYSE:SOBO) Trading Down 2.4% – Should You Sell?

South Bow Co. (NYSE:SOBO) traded down 2.4% on Wednesday . The stock traded as low as $22.78 and last traded at $22.80. 626,053 shares changed hands during trading, a decline of 26% from the average session volume of 845,697 shares. The stock had previously closed at $23.37.

Analyst Ratings Changes

SOBO has been the subject of a number of research analyst reports. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group began coverage on South Bow in a research report on Tuesday, October 8th. They issued a “hold” rating for the company. US Capital Advisors upgraded 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, Morgan Stanley started coverage on shares of South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, South Bow has an average rating of “Moderate Buy”.

South Bow Trading Down 2.4 %

The stock has a 50-day moving average of $24.64.

South Bow Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.77%. 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.