CIBC Asset Management Inc Acquires New Shares in South Bow Co. (NYSE:SOBO)

CIBC Asset Management Inc acquired a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 316,540 shares of the company’s stock, valued at approximately $7,453,000. CIBC Asset Management Inc owned 0.15% of South Bow as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Roxbury Financial LLC bought a new stake in shares of South Bow during the fourth quarter valued at approximately $29,000. Rhumbline Advisers bought a new stake in South Bow during the 4th quarter valued at $34,000. Manitou Investment Management Ltd. acquired a new position in South Bow during the 4th quarter worth $40,000. Canal Insurance CO acquired a new position in South Bow during the 4th quarter worth $47,000. Finally, CENTRAL TRUST Co acquired a new position in shares of South Bow during the fourth quarter valued at $48,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SOBO. Wells Fargo & Company downgraded shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. TD Securities assumed coverage on South Bow in a research note on Wednesday, January 15th. They set a “hold” rating for the company. Morgan Stanley initiated coverage on South Bow in a research report on Friday, October 25th. They set an “underweight” rating on the stock. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a report on Monday, October 28th. Finally, Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. 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 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 $25.50.

South Bow Trading Down 0.1 %

Shares of NYSE SOBO opened at $24.67 on Thursday. South Bow Co. has a one year low of $21.12 and a one year high of $27.30. The company has a 50-day moving average price of $24.06.

About South Bow

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.