Spirit of America Management Corp NY Invests $348,000 in South Bow Co. (NYSE:SOBO)

Spirit of America Management Corp NY bought a new position in shares of South Bow Co. (NYSE:SOBO) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 14,765 shares of the company’s stock, valued at approximately $348,000.

A number of other hedge funds also recently made changes to their positions in the business. Manitou Investment Management Ltd. bought a new stake in shares of South Bow during the 4th quarter worth $40,000. Canal Insurance CO bought a new stake in shares of South Bow during the 4th quarter worth $47,000. CENTRAL TRUST Co bought a new stake in South Bow in the 4th quarter valued at about $48,000. MassMutual Private Wealth & Trust FSB purchased a new stake in South Bow during the fourth quarter valued at about $213,000. Finally, Hennessy Advisors Inc. bought a new position in South Bow during the fourth quarter worth about $276,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SOBO. Jefferies Financial Group began coverage on shares of South Bow in a research note on Tuesday, October 8th. They set a “hold” rating on the stock. Scotiabank raised shares of South Bow to a “hold” rating in a report on Friday, December 27th. US Capital Advisors raised shares of South Bow to a “strong-buy” rating in a report on Monday, October 28th. CIBC raised shares of South Bow from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $23.00 to $25.00 in a report on Thursday, January 9th. Finally, Morgan Stanley started coverage on shares of South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. Two equities 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 MarketBeat.com, South Bow has a consensus rating of “Hold” and a consensus price target of $25.00.

South Bow Stock Up 4.6 %

SOBO opened at $24.79 on Wednesday. The firm’s fifty day moving average price is $24.09. South Bow Co. has a one year low of $21.12 and a one year high of $27.30.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 8.07%.

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.