Viking Fund Management LLC Takes Position in South Bow Co. (NYSE:SOBO)

Viking Fund Management LLC purchased a new stake in shares of South Bow Co. (NYSE:SOBO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 31,400 shares of the company's stock, valued at approximately $740,000.

Several other institutional investors have also added to or reduced their stakes in the company. Nexus Investment Management ULC bought a new position in South Bow during the 4th quarter valued at approximately $2,810,000. Hennessy Advisors Inc. bought a new position in shares of South Bow during the 4th quarter valued at $276,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in South Bow in the fourth quarter valued at about $213,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOBO. Jefferies Financial Group initiated coverage on shares of South Bow in a research report on Tuesday, October 8th. They set a "hold" rating for the company. CIBC upgraded shares of South Bow from a "neutral" rating to an "outperform" rating and upped their target price for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. TD Securities started coverage on shares of South Bow in a research note on Wednesday, January 15th. They set a "hold" rating for the company. US Capital Advisors raised shares of South Bow to a "strong-buy" rating in a research report on Monday, October 28th. Finally, Morgan Stanley began coverage on shares of South Bow in a research note on Friday, October 25th. They issued an "underweight" rating for the company. Two analysts have rated the stock with a sell rating, four have assigned 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 company presently has a consensus rating of "Hold" and an average price target of $25.00.

South Bow Trading Down 0.3 %

SOBO traded down $0.08 during trading on Wednesday, reaching $24.73. 534,379 shares of the company's stock were exchanged, compared to its average volume of 903,037. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.30. The stock has a fifty day moving average of $24.41.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.09%.

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.