Van ECK Associates Corp acquired a new stake in South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 178,600 shares of the company's stock, valued at approximately $4,210,000. Van ECK Associates Corp owned 0.09% of South Bow at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Mutual Advisors LLC purchased a new position in shares of South Bow during the 4th quarter valued at $517,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of South Bow during the 4th quarter valued at $6,787,000. Cibc World Market Inc. purchased a new position in shares of South Bow during the 4th quarter valued at $47,533,000. Exchange Traded Concepts LLC purchased a new position in shares of South Bow during the 4th quarter valued at $5,427,000. Finally, apricus wealth LLC purchased a new position in shares of South Bow during the 4th quarter valued at $1,404,000.
South Bow Stock Down 0.4 %
NYSE SOBO traded down $0.10 during trading on Friday, reaching $25.44. The company's stock had a trading volume of 360,913 shares, compared to its average volume of 482,963. The stock has a fifty day moving average of $24.11. South Bow Co. has a one year low of $21.12 and a one year high of $27.30.
Wall Street Analysts Forecast Growth
SOBO has been the topic of a number of recent research reports. Scotiabank upped their price target on South Bow from $24.00 to $26.00 and gave the company a "sector perform" rating in a research report on Thursday, February 13th. TD Securities assumed coverage on South Bow in a report on Wednesday, January 15th. They set a "hold" rating on the stock. Wells Fargo & Company cut South Bow from a "hold" rating to a "strong sell" rating in a report on Wednesday, December 18th. CIBC raised South Bow from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Thursday, January 9th. Finally, Tudor Pickering raised South Bow to a "strong-buy" rating in a report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.50.
Check Out Our Latest Stock Report on South Bow
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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