Exchange Traded Concepts LLC bought a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 230,243 shares of the company's stock, valued at approximately $5,427,000. Exchange Traded Concepts LLC owned 0.11% of South Bow as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in South Bow in the fourth quarter worth approximately $276,000. Nexus Investment Management ULC acquired a new position in shares of South Bow during the fourth quarter worth approximately $2,810,000. MassMutual Private Wealth & Trust FSB bought a new position in shares of South Bow in the 4th quarter worth $213,000. Viking Fund Management LLC acquired a new stake in South Bow in the 4th quarter valued at $740,000. Finally, Mutual Advisors LLC bought a new stake in South Bow during the 4th quarter valued at $517,000.
Analyst Ratings Changes
SOBO has been the subject of a number of recent research reports. Cibc World Mkts raised South Bow to a "hold" rating in a research note on Friday, October 11th. Jefferies Financial Group started coverage on South Bow in a report on Tuesday, October 8th. They set a "hold" rating for the company. CIBC upgraded South Bow from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $23.00 to $25.00 in a research note on Thursday, January 9th. Scotiabank upgraded shares of South Bow to a "hold" rating in a research note on Friday, December 27th. Finally, Morgan Stanley began coverage on shares of South Bow in a research report on Friday, October 25th. They set an "underweight" rating on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $25.00.
Read Our Latest Research Report on South Bow
South Bow Trading Up 1.4 %
South Bow stock traded up $0.34 during midday trading on Friday, reaching $24.36. 417,214 shares of the stock were exchanged, compared to its average volume of 862,925. The firm has a fifty day simple moving average of $24.35. South Bow Co. has a 52 week low of $21.12 and a 52 week high of $27.30.
South Bow Announces Dividend
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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.21%.
About South Bow
(
Free Report)
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.
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