Nexus Investment Management ULC Purchases Shares of 119,342 South Bow Co. (NYSE:SOBO)

Nexus Investment Management ULC acquired a new position in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 119,342 shares of the company’s stock, valued at approximately $2,810,000.

Separately, Hennessy Advisors Inc. bought a new position in shares of South Bow during the fourth quarter valued at approximately $276,000.

South Bow Trading Up 3.8 %

South Bow stock opened at $24.11 on Friday. The stock has a 50 day moving average of $24.42. South Bow Co. has a twelve month low of $21.12 and a twelve month high of $27.30.

South Bow Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 8.30%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Cibc World Mkts raised shares of South Bow to a “hold” rating in a research report on Friday, October 11th. 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. Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. Finally, Morgan Stanley assumed coverage on South Bow in a research report on Friday, October 25th. They set an “underweight” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.