Fractal Investments LLC Purchases Shares of 49,800 South Bow Co. (NYSE:SOBO)

Fractal Investments LLC acquired a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,800 shares of the company's stock, valued at approximately $1,174,000. South Bow makes up about 0.2% of Fractal Investments LLC's portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. acquired a new position in South Bow in the 4th quarter worth $47,533,000. Jennison Associates LLC acquired a new position in shares of South Bow during the fourth quarter worth about $15,967,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of South Bow during the fourth quarter worth about $6,787,000. Exchange Traded Concepts LLC bought a new position in shares of South Bow during the fourth quarter worth about $5,427,000. Finally, Nexus Investment Management ULC acquired a new stake in South Bow in the 4th quarter valued at approximately $2,810,000.

South Bow Price Performance

Shares of SOBO traded up $0.07 during midday trading on Monday, reaching $24.79. The stock had a trading volume of 266,528 shares, compared to its average volume of 750,512. The company's 50 day simple moving average is $24.05. South Bow Co. has a one year low of $21.12 and a one year high of $27.30.

Wall Street Analyst Weigh In

SOBO has been the subject of a number of recent research reports. TD Securities assumed coverage on South Bow in a research report on Wednesday, January 15th. They set a "hold" rating for the company. Wells Fargo & Company cut shares of South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. Tudor Pickering upgraded shares of South Bow to a "strong-buy" rating in a research note on Tuesday, November 19th. US Capital Advisors upgraded shares of South Bow to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Scotiabank raised South Bow to a "hold" rating in a research report on Friday, December 27th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $25.00.

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.