First Bank & Trust Takes Position in South Bow Co. (NYSE:SOBO)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of SOBO. Cibc World Market Inc. acquired a new position in South Bow in the fourth quarter valued at about $47,533,000. Jennison Associates LLC acquired a new position in South Bow in the fourth quarter valued at about $15,967,000. Miller Howard Investments Inc. NY acquired a new position in South Bow in the fourth quarter valued at about $10,260,000. CIBC Asset Management Inc acquired a new position in South Bow in the fourth quarter valued at about $7,453,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in South Bow in the fourth quarter valued at about $6,787,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on SOBO. Morgan Stanley began coverage on South Bow in a research note on Friday, October 25th. They set an “underweight” rating for the company. US Capital Advisors raised South Bow to a “strong-buy” rating in a research note on Monday, October 28th. CIBC raised South Bow from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. TD Securities began coverage on South Bow in a research note on Wednesday, January 15th. They set a “hold” rating for the company. Finally, Tudor Pickering raised South Bow to a “strong-buy” rating in a research note on Tuesday, November 19th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.50.

South Bow Trading Up 3.4 %

Shares of SOBO stock opened at $25.53 on Friday. The firm has a 50 day moving average of $24.09. South Bow Co. has a one year low of $21.12 and a one year 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.