CIBC Asset Management Inc Makes New Investment in South Bow Co. (NYSE:SOBO)

CIBC Asset Management Inc purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 316,540 shares of the company's stock, valued at approximately $7,453,000. CIBC Asset Management Inc owned 0.15% of South Bow at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SOBO. Cibc World Market Inc. purchased a new stake in South Bow during the fourth quarter valued at about $47,533,000. Jennison Associates LLC purchased a new stake in shares of South Bow in the fourth quarter worth about $15,967,000. Miller Howard Investments Inc. NY purchased a new stake in shares of South Bow in the fourth quarter worth about $10,260,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow in the fourth quarter worth about $6,787,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of South Bow in the fourth quarter worth about $5,427,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SOBO shares. Scotiabank upped their target price on South Bow from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Wells Fargo & Company downgraded South Bow from a "hold" rating to a "strong sell" rating in a research report on Wednesday, December 18th. Tudor Pickering upgraded South Bow to a "strong-buy" rating in a research note on Tuesday, November 19th. CIBC upgraded South Bow from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, TD Securities initiated coverage on South Bow in a research note on Wednesday, January 15th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $25.50.

South Bow Stock Performance

NYSE SOBO traded down $0.10 on Friday, reaching $25.44. 360,913 shares of the stock traded hands, compared to its average volume of 482,963. The stock's fifty day moving average price is $24.11. South Bow Co. has a 12 month low of $21.12 and a 12 month high of $27.30.

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.