South Bow Corporation (NYSE:SOBO) Receives $29.00 Average Price Target from Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have received an average rating of “Reduce” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.00.

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. UBS Group started coverage on South Bow in a research report on Thursday, December 11th. They set a “neutral” rating on the stock. Morgan Stanley reissued an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Scotiabank restated a “sector perform” rating and set a $30.00 target price on shares of South Bow in a research note on Friday, January 16th. Finally, 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 research note on Wednesday, January 14th.

South Bow Stock Performance

Shares of NYSE SOBO opened at $31.28 on Wednesday. South Bow has a 12-month low of $21.16 and a 12-month high of $31.54. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 19.67 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 firm has a 50 day moving average of $28.02 and a 200 day moving average of $27.56.

Institutional Investors Weigh In On South Bow

Institutional investors have recently bought and sold shares of the business. City Holding Co. raised its holdings in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 735 shares during the period. EverSource Wealth Advisors LLC raised its stake in South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after purchasing an additional 645 shares during the period. IFP Advisors Inc raised its stake in South Bow by 780.3% during the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in South Bow by 1,993.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in South Bow in the 4th quarter worth approximately $39,000.

South Bow Company 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.