2,015,095 Shares in South Bow Co. (NYSE:SOBO) Purchased by Cibc World Market Inc.

Cibc World Market Inc. acquired a new position in South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,015,095 shares of the company's stock, valued at approximately $47,533,000. Cibc World Market Inc. owned 0.97% of South Bow as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of South Bow during the fourth quarter valued at approximately $6,787,000. Exchange Traded Concepts LLC bought a new stake in South Bow during the fourth quarter worth about $5,427,000. Nexus Investment Management ULC purchased a new stake in South Bow in the fourth quarter worth about $2,810,000. apricus wealth LLC purchased a new position in shares of South Bow during the fourth quarter valued at approximately $1,404,000. Finally, Viking Fund Management LLC bought a new stake in shares of South Bow in the 4th quarter worth approximately $740,000.

South Bow Trading Down 1.4 %

Shares of SOBO traded down $0.35 on Friday, reaching $23.93. The company's stock had a trading volume of 553,395 shares, compared to its average volume of 717,422. The company's 50 day moving average price is $24.14. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.30.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 8.36%.

Analyst Ratings Changes

SOBO has been the topic of several recent analyst reports. Tudor Pickering raised shares of South Bow to a "strong-buy" rating in a research report 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. US Capital Advisors upgraded South Bow to a "strong-buy" rating in a report on Monday, October 28th. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating on the stock. Finally, Wells Fargo & Company cut shares of South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, South Bow currently has an average rating of "Hold" and an average target price of $25.00.

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.