Heronetta Management L.P. Makes New Investment in South Bow Co. (NYSE:SOBO)

Heronetta Management L.P. acquired a new position in South Bow Co. (NYSE:SOBO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 40,497 shares of the company’s stock, valued at approximately $955,000. South Bow makes up approximately 0.6% of Heronetta Management L.P.’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of SOBO. Hennessy Advisors Inc. acquired a new position in shares of South Bow in the 4th quarter valued at approximately $276,000. Nexus Investment Management ULC acquired a new position in shares of South Bow in the 4th quarter valued at approximately $2,810,000. MassMutual Private Wealth & Trust FSB acquired a new position in shares of South Bow in the 4th quarter valued at approximately $213,000. Viking Fund Management LLC acquired a new position in shares of South Bow in the 4th quarter valued at approximately $740,000. Finally, Mutual Advisors LLC acquired a new position in shares of South Bow in the 4th quarter valued at approximately $517,000.

South Bow Stock Up 3.8 %

SOBO opened at $27.45 on Thursday. South Bow Co. has a fifty-two week low of $21.12 and a fifty-two week high of $27.60. The company has a market cap of $5.71 billion and a price-to-earnings ratio of 14.84. The stock’s 50 day simple moving average is $24.56.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. CIBC upgraded 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 research report on Thursday, January 9th. Scotiabank upped their price objective on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. TD Securities initiated coverage on shares of South Bow in a research report on Wednesday, January 15th. They set a “hold” rating for the company. Wells Fargo & Company cut shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Finally, Tudor Pickering upgraded shares of South Bow to a “strong-buy” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

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.