Jennison Associates LLC Acquires Shares of 676,968 South Bow Co. (NYSE:SOBO)

Jennison Associates LLC bought a new position in shares of South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 676,968 shares of the company’s stock, valued at approximately $15,967,000. Jennison Associates LLC owned 0.33% of South Bow at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Manitou Investment Management Ltd. purchased a new stake in South Bow in the 4th quarter worth approximately $40,000. Canal Insurance CO purchased a new position in shares of South Bow during the fourth quarter valued at approximately $47,000. CENTRAL TRUST Co purchased a new stake in South Bow in the fourth quarter worth $48,000. MassMutual Private Wealth & Trust FSB bought a new stake in South Bow in the fourth quarter valued at $213,000. Finally, Hennessy Advisors Inc. bought a new stake in South Bow in the fourth quarter valued at $276,000.

South Bow Stock Performance

Shares of SOBO opened at $25.17 on Thursday. The business has a 50-day simple moving average of $24.09. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.30.

Analyst Ratings Changes

Several brokerages have commented on SOBO. Cibc World Mkts upgraded shares of South Bow to a “hold” rating in a report on Friday, October 11th. Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. TD Securities initiated coverage on South Bow in a report on Wednesday, January 15th. They set a “hold” rating on the stock. Morgan Stanley started coverage on South Bow in a research note on Friday, October 25th. They issued an “underweight” rating for the company. 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 issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and an average 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.