Viking Fund Management LLC Acquires Shares of 31,400 South Bow Co. (NYSE:SOBO)

Viking Fund Management LLC acquired a new position in shares of South Bow Co. (NYSE:SOBO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 31,400 shares of the company’s stock, valued at approximately $740,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nexus Investment Management ULC purchased a new stake in shares of South Bow during the fourth quarter worth approximately $2,810,000. Hennessy Advisors Inc. purchased a new stake in shares of South Bow during the fourth quarter worth $276,000. Finally, MassMutual Private Wealth & Trust FSB acquired a new stake in shares of South Bow in the fourth quarter valued at about $213,000.

South Bow Price Performance

Shares of NYSE:SOBO opened at $24.79 on Wednesday. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.30. The business’s 50-day simple 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. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.07%.

Wall Street Analysts Forecast Growth

SOBO has been the topic of several recent research reports. Jefferies Financial Group began coverage on South Bow in a report on Tuesday, October 8th. They set a “hold” rating on the stock. Scotiabank raised South Bow to a “hold” rating in a research note on Friday, December 27th. Wells Fargo & Company downgraded South Bow from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 18th. Morgan Stanley initiated coverage on shares of South Bow in a research report on Friday, October 25th. They set an “underweight” rating on the stock. Finally, US Capital Advisors upgraded shares of South Bow to a “strong-buy” rating in a research report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, South Bow has a consensus rating of “Hold” and an average target price 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.