South Bow (NYSE:SOBO) Hits New 12-Month High – Time to Buy?

South Bow Corporation (NYSE:SOBO) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.53 and last traded at $30.3990, with a volume of 554526 shares traded. The stock had previously closed at $29.97.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SOBO. UBS Group assumed coverage on South Bow in a report on Thursday, December 11th. They issued a “neutral” rating for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Wolfe Research cut shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a report on Wednesday, January 14th. Barclays started coverage on shares of South Bow in a report on Monday, December 8th. They set an “equal weight” rating and a $27.00 price target for the company. Finally, Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $29.00.

South Bow Price Performance

The firm has a market capitalization of $6.36 billion, a PE ratio of 19.22 and a beta of 0.47. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The company has a fifty day moving average price of $27.88 and a two-hundred day moving average price of $27.50.

Institutional Investors Weigh In On South Bow

Hedge funds have recently made changes to their positions in the business. City Holding Co. boosted its stake in shares of South Bow by 277.4% during the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after buying an additional 645 shares during the last quarter. IFP Advisors Inc grew its stake in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after acquiring an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new position in South Bow during the fourth quarter worth about $39,000.

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.