Van ECK Associates Corp Takes Position in South Bow Co. (NYSE:SOBO)

Van ECK Associates Corp bought a new position in shares of South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 178,600 shares of the company’s stock, valued at approximately $4,210,000. Van ECK Associates Corp owned 0.09% of South Bow at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manitou Investment Management Ltd. purchased a new position in South Bow during the 4th quarter valued at about $40,000. Canal Insurance CO purchased a new position in South Bow during the fourth quarter worth $47,000. CENTRAL TRUST Co acquired a new position in shares of South Bow in the fourth quarter worth $48,000. YANKCOM Partnership purchased a new position in South Bow in the 4th quarter valued at about $57,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new position in South Bow in the fourth quarter valued at $213,000.

South Bow Price Performance

Shares of NYSE:SOBO opened at $24.67 on Thursday. The firm’s fifty day moving average is $24.06. South Bow Co. has a one year low of $21.12 and a one year high of $27.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SOBO shares. Scotiabank lifted their price objective on South Bow from $24.00 to $26.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a report on Monday, October 28th. Morgan Stanley assumed coverage on South Bow in a research report on Friday, October 25th. They set an “underweight” rating on the stock. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. Finally, CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and raised their target price for the company from $23.00 to $25.00 in a research note on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, South Bow has a consensus rating of “Hold” and an average target price of $25.50.

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.