1,700 Shares in South Bow Co. (NYSE:SOBO) Acquired by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. acquired a new stake in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,700 shares of the company’s stock, valued at approximately $40,000.

A number of other institutional investors have also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB bought a new position in South Bow in the fourth quarter valued at approximately $213,000. Hennessy Advisors Inc. acquired a new stake in shares of South Bow in the 4th quarter valued at $276,000. Mutual Advisors LLC bought a new position in shares of South Bow in the 4th quarter valued at $517,000. Viking Fund Management LLC bought a new position in shares of South Bow in the 4th quarter valued at $740,000. Finally, Nexus Investment Management ULC acquired a new position in shares of South Bow during the 4th quarter worth $2,810,000.

Analyst Upgrades and Downgrades

SOBO has been the topic of several research analyst reports. Scotiabank raised South Bow to a “hold” rating in a research note on Friday, December 27th. TD Securities initiated coverage on shares of South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating on the stock. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Jefferies Financial Group began coverage on shares of South Bow in a research report on Tuesday, October 8th. They issued a “hold” rating on the stock. Finally, CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $23.00 to $25.00 in a report on Thursday, January 9th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

South Bow Price Performance

Shares of NYSE SOBO opened at $24.02 on Friday. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.30. The firm has a 50 day simple moving average of $24.40.

South Bow Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued 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 8.33%.

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.