Lipe & Dalton Purchases Shares of 10,531 South Bow Co. (NYSE:SOBO)

Lipe & Dalton purchased a new stake in shares of South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,531 shares of the company’s stock, valued at approximately $248,000.

Several other large investors have also added to or reduced their stakes in the company. Cibc World Market Inc. purchased a new stake in South Bow in the fourth quarter valued at approximately $47,533,000. Jennison Associates LLC purchased a new stake in South Bow in the fourth quarter valued at $15,967,000. Miller Howard Investments Inc. NY purchased a new stake in shares of South Bow in the fourth quarter worth about $10,260,000. CIBC Asset Management Inc purchased a new stake in South Bow in the 4th quarter worth approximately $7,453,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new stake in South Bow in the 4th quarter worth approximately $6,787,000.

South Bow Price Performance

Shares of NYSE SOBO opened at $25.44 on Friday. South Bow Co. has a 12-month low of $21.12 and a 12-month high of $27.30. The company’s 50-day simple moving average is $24.09.

Analysts Set New Price Targets

SOBO has been the topic of a number of recent analyst reports. Scotiabank increased their price target on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research report on Monday, October 28th. CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $23.00 to $25.00 in a research report on Thursday, January 9th. TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. Finally, Morgan Stanley initiated coverage on shares of South Bow in a research note on Friday, October 25th. They issued an “underweight” rating on the stock. 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 data from MarketBeat.com, South Bow presently has a consensus rating of “Hold” and a consensus target price of $25.50.

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.