Manitou Investment Management Ltd. Invests $40,000 in South Bow Co. (NYSE:SOBO)

Manitou Investment Management Ltd. acquired a new position in South Bow Co. (NYSE:SOBO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,700 shares of the company’s stock, valued at approximately $40,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Nexus Investment Management ULC bought a new position in shares of South Bow in the fourth quarter valued at $2,810,000. Viking Fund Management LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $740,000. Mutual Advisors LLC bought a new stake in shares of South Bow in the 4th quarter valued at about $517,000. Hennessy Advisors Inc. acquired a new stake in South Bow in the 4th quarter valued at about $276,000. Finally, MassMutual Private Wealth & Trust FSB bought a new position in South Bow during the fourth quarter worth about $213,000.

South Bow Trading Down 2.9 %

SOBO stock opened at $24.02 on Friday. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.30. The stock’s fifty day moving average price is $24.40.

South Bow Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 8.33%. The ex-dividend date of this dividend is Tuesday, December 31st.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company lowered South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and raised their price target for the company from $23.00 to $25.00 in a report on Thursday, January 9th. TD Securities assumed coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating for the company. Scotiabank raised shares of South Bow to a “hold” rating in a research report on Friday, December 27th. Finally, Jefferies Financial Group began coverage on shares of South Bow in a report on Tuesday, October 8th. They set a “hold” rating for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.