Alberta Investment Management Corp Invests $3.50 Million in South Bow Co. (NYSE:SOBO)

Alberta Investment Management Corp acquired a new position in shares of South Bow Co. (NYSE:SOBO) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 148,328 shares of the company’s stock, valued at approximately $3,498,000. Alberta Investment Management Corp owned about 0.07% of South Bow at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Tudor Pickering raised South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. TD Securities initiated coverage on South Bow in a research report on Wednesday, January 15th. They set a “hold” rating on the stock. US Capital Advisors upgraded South Bow to a “strong-buy” rating in a research note on Monday, October 28th. CIBC upgraded South Bow from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $23.00 to $25.00 in a research note on Thursday, January 9th. Finally, Morgan Stanley assumed coverage on shares of South Bow in a report on Friday, October 25th. They set an “underweight” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, South Bow has a consensus rating of “Hold” and a consensus price target of $25.50.

South Bow Stock Up 3.4 %

Shares of SOBO opened at $25.53 on Friday. The stock’s 50-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.

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.