Hennessy Advisors Inc. Purchases New Shares in South Bow Co. (NYSE:SOBO)

Hennessy Advisors Inc. acquired a new position in shares of South Bow Co. (NYSE:SOBO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,700 shares of the company’s stock, valued at approximately $276,000.

South Bow Trading Up 3.8 %

NYSE SOBO opened at $24.11 on Friday. The stock’s 50 day moving average price is $24.42. South Bow Co. has a 1 year low of $21.12 and a 1 year high of $27.30.

South Bow Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend is Tuesday, December 31st.

Analysts Set New Price Targets

SOBO has been the topic of several research reports. Morgan Stanley assumed coverage on shares of South Bow in a research note on Friday, October 25th. They issued an “underweight” rating on the stock. Scotiabank upgraded shares of South Bow to a “hold” rating in a research report on Friday, December 27th. CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $23.00 to $25.00 in a research report on Thursday, January 9th. TD Securities started coverage on South Bow in a research report on Wednesday. They set a “hold” rating on the stock. Finally, Cibc World Mkts upgraded South Bow to a “hold” rating in a research note on Friday, October 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.