119,342 Shares in South Bow Co. (NYSE:SOBO) Purchased by Nexus Investment Management ULC

Nexus Investment Management ULC acquired a new position in South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 119,342 shares of the company’s stock, valued at approximately $2,810,000.

Separately, Hennessy Advisors Inc. bought a new stake in shares of South Bow during the 4th quarter worth $276,000.

South Bow Stock Performance

South Bow stock opened at $24.11 on Friday. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.30. The firm’s fifty day moving average is $24.42.

South Bow Dividend Announcement

The company 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 $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 8.30%.

Analyst Ratings Changes

Several brokerages have issued reports on SOBO. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Scotiabank upgraded shares of South Bow to a “hold” rating in a research note on Friday, December 27th. CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $23.00 to $25.00 in a research note on Thursday, January 9th. Cibc World Mkts upgraded South Bow to a “hold” rating in a research report on Friday, October 11th. Finally, US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.