22,276 Shares in South Bow Co. (NYSE:SOBO) Purchased by Mutual Advisors LLC

Mutual Advisors LLC bought a new stake in South Bow Co. (NYSE:SOBO) during the 4th quarter, HoldingsChannel reports. The fund bought 22,276 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hennessy Advisors Inc. acquired a new position in South Bow during the fourth quarter valued at approximately $276,000. Nexus Investment Management ULC bought a new position in shares of South Bow in the 4th quarter valued at $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of South Bow during the 4th quarter worth $213,000. Finally, Viking Fund Management LLC bought a new stake in shares of South Bow during the 4th quarter worth $740,000.

South Bow Price Performance

South Bow stock opened at $23.79 on Tuesday. South Bow Co. has a 52-week low of $21.12 and a 52-week high of $27.30. The stock’s 50 day moving average price is $24.35.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 8.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley started coverage on South Bow in a research note on Friday, October 25th. They set an “underweight” rating for the company. Scotiabank upgraded shares of South Bow to a “hold” rating in a report on Friday, December 27th. CIBC raised 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 report on Thursday, January 9th. US Capital Advisors raised South Bow to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group began coverage on shares of South Bow in a research report on Tuesday, October 8th. They set a “hold” rating on the stock. Two investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.00.

About South Bow

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.