Jennison Associates LLC Acquires Shares of 676,968 South Bow Co. (NYSE:SOBO)

Jennison Associates LLC purchased a new stake in South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 676,968 shares of the company's stock, valued at approximately $15,967,000. Jennison Associates LLC owned about 0.33% of South Bow as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SOBO. Cibc World Market Inc. purchased a new stake in South Bow in the fourth quarter valued at approximately $47,533,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in shares of South Bow in the 4th quarter valued at $6,787,000. Exchange Traded Concepts LLC acquired a new position in South Bow during the 4th quarter worth about $5,427,000. Nexus Investment Management ULC purchased a new position in South Bow during the 4th quarter valued at about $2,810,000. Finally, apricus wealth LLC acquired a new position in South Bow in the 4th quarter valued at about $1,404,000.

South Bow Trading Up 0.3 %

Shares of SOBO traded up $0.09 during midday trading on Friday, reaching $24.69. The stock had a trading volume of 432,060 shares, compared to its average volume of 774,796. The business has a fifty day moving average price of $24.05. South Bow Co. has a 1-year low of $21.12 and a 1-year high of $27.30.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several research reports. Morgan Stanley initiated coverage on shares of South Bow in a research report on Friday, October 25th. They set an "underweight" rating on the stock. Scotiabank upgraded shares of South Bow to a "hold" rating in a report on Friday, December 27th. Tudor Pickering upgraded shares of South Bow to a "strong-buy" rating in a research note on Tuesday, November 19th. US Capital Advisors upgraded South Bow to a "strong-buy" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a research note on Wednesday, December 18th. Two equities 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 given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $25.00.

South Bow 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.