MassMutual Private Wealth & Trust FSB Takes $213,000 Position in South Bow Co. (NYSE:SOBO)

MassMutual Private Wealth & Trust FSB bought a new stake in South Bow Co. (NYSE:SOBO) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 9,047 shares of the company’s stock, valued at approximately $213,000.

Separately, Nexus Investment Management ULC acquired a new position in South Bow during the fourth quarter worth about $2,810,000.

South Bow Stock Down 0.3 %

Shares of NYSE SOBO opened at $24.73 on Thursday. The business’s 50-day moving average price is $24.41. South Bow Co. has a 12 month low of $21.12 and a 12 month high of $27.30.

South Bow Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid 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 8.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SOBO. CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. Morgan Stanley began coverage on South Bow in a research report on Friday, October 25th. They set an “underweight” rating on the stock. TD Securities began coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. Scotiabank upgraded 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 research 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 issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.00.

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.