14,765 Shares in South Bow Co. (NYSE:SOBO) Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY bought a new position in South Bow Co. (NYSE:SOBO) in the 4th quarter, Holdings Channel.com reports. The firm bought 14,765 shares of the company’s stock, valued at approximately $348,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new stake in South Bow during the fourth quarter valued at about $276,000. Nexus Investment Management ULC purchased a new stake in South Bow during the fourth quarter valued at about $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new stake in South Bow during the fourth quarter valued at about $213,000. Viking Fund Management LLC purchased a new stake in South Bow during the fourth quarter valued at about $740,000. Finally, Mutual Advisors LLC purchased a new stake in South Bow during the fourth quarter valued at about $517,000.

Analysts Set New Price Targets

Several equities analysts have recently commented on SOBO shares. Morgan Stanley started coverage on shares of South Bow in a research note on Friday, October 25th. They set an “underweight” rating for the company. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Scotiabank raised shares of South Bow to a “hold” rating in a research note on Friday, December 27th. 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. Finally, Tudor Pickering raised shares of 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 issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

South Bow Stock Up 4.6 %

SOBO stock opened at $24.79 on Wednesday. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.30. The business has a 50-day moving average of $24.09.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend was Tuesday, December 31st.

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.