287,953 Shares in South Bow Co. (NYSE:SOBO) Acquired by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in South Bow Co. (NYSE:SOBO) in the 4th quarter, Holdings Channel reports. The firm acquired 287,953 shares of the company’s stock, valued at approximately $6,787,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SOBO. Hennessy Advisors Inc. acquired a new stake in shares of South Bow in the fourth quarter valued at approximately $276,000. Nexus Investment Management ULC purchased a new stake in South Bow in the 4th quarter valued at approximately $2,810,000. MassMutual Private Wealth & Trust FSB purchased a new position in South Bow during the fourth quarter worth $213,000. Viking Fund Management LLC acquired a new position in shares of South Bow in the fourth quarter worth $740,000. Finally, Mutual Advisors LLC purchased a new stake in shares of South Bow in the fourth quarter valued at $517,000.

South Bow Trading Up 1.4 %

Shares of SOBO opened at $24.36 on Friday. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.30. The company has a fifty day moving average of $24.35.

South Bow Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date of this dividend is Tuesday, December 31st.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SOBO shares. Scotiabank raised shares of South Bow to a “hold” rating in a research note on Friday, December 27th. Jefferies Financial Group assumed coverage on shares of South Bow in a research note on Tuesday, October 8th. They set a “hold” rating on the stock. Cibc World Mkts raised shares of South Bow to a “hold” rating in a research note on Friday, October 11th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, TD Securities began coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.00.

South Bow Company 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.