Viking Fund Management LLC Acquires New Stake in South Bow Co. (NYSE:SOBO)

Viking Fund Management LLC bought a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,400 shares of the company’s stock, valued at approximately $740,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nexus Investment Management ULC purchased a new stake in shares of South Bow in the 4th quarter worth approximately $2,810,000. Hennessy Advisors Inc. purchased a new stake in shares of South Bow during the 4th quarter valued at $276,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in shares of South Bow in the 4th quarter worth $213,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on SOBO. Scotiabank upgraded shares of South Bow to a “hold” rating in a research note on Friday, December 27th. Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 18th. TD Securities initiated coverage on South Bow in a research note on Wednesday, January 15th. They issued a “hold” rating for the company. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group assumed coverage on South Bow in a research note on Tuesday, October 8th. They issued a “hold” rating for the company. Two 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 stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.00.

South Bow Stock Up 2.8 %

NYSE SOBO opened at $24.79 on Wednesday. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.30. The company’s 50-day moving average is $24.40.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 8.07%.

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.