9,081 Shares in South Bow Co. (NYSE:SOBO) Bought by First Bank & Trust

First Bank & Trust bought a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,081 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. acquired a new position in South Bow during the fourth quarter worth $47,533,000. Jennison Associates LLC acquired a new position in South Bow during the fourth quarter worth $15,967,000. Miller Howard Investments Inc. NY acquired a new position in South Bow during the fourth quarter worth $10,260,000. CIBC Asset Management Inc acquired a new position in South Bow during the fourth quarter worth $7,453,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in South Bow during the fourth quarter worth $6,787,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SOBO shares. Morgan Stanley started coverage on shares of South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. TD Securities began coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating for the company. Scotiabank lifted their price objective on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Finally, CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.50.

South Bow Price Performance

Shares of South Bow stock opened at $25.53 on Friday. The company has a 50-day simple moving average of $24.09. South Bow Co. has a 52-week low of $21.12 and a 52-week high of $27.30.

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.