Exchange Traded Concepts LLC Makes New Investment in South Bow Co. (NYSE:SOBO)

Exchange Traded Concepts LLC purchased a new stake in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 230,243 shares of the company’s stock, valued at approximately $5,427,000. Exchange Traded Concepts LLC owned approximately 0.11% of South Bow at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nexus Investment Management ULC bought a new stake in South Bow during the fourth quarter worth about $2,810,000. Viking Fund Management LLC purchased a new stake in shares of South Bow in the 4th quarter worth approximately $740,000. Mutual Advisors LLC purchased a new position in South Bow in the fourth quarter worth about $517,000. Hennessy Advisors Inc. bought a new stake in South Bow in the 4th quarter worth about $276,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new position in shares of South Bow in the 4th quarter worth $213,000.

South Bow Stock Performance

Shares of NYSE SOBO opened at $24.36 on Friday. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.30. The business has a 50 day moving average of $24.35.

South Bow Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 8.21%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on shares of South Bow in a research note on Friday, October 25th. They issued an “underweight” rating for the company. Scotiabank upgraded South Bow to a “hold” rating in a report on Friday, December 27th. US Capital Advisors raised shares of South Bow to a “strong-buy” rating in a research report on Monday, October 28th. CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, Tudor Pickering upgraded South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, South Bow currently 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.