South Bow (NYSE:SOBO) Hits New 1-Year High – Here’s What Happened

South Bow Corporation (NYSE:SOBO)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.23 and last traded at $33.10, with a volume of 483290 shares traded. The stock had previously closed at $32.85.

Wall Street Analyst Weigh In

SOBO has been the subject of a number of research reports. National Bank Financial boosted their price objective on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 17th. Barclays assumed coverage on shares of South Bow in a research report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price target for the company. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. UBS Group started coverage on shares of South Bow in a research report on Thursday, December 11th. They set a “neutral” rating on the stock. Finally, Weiss Ratings raised shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.00.

South Bow Price Performance

The stock has a market cap of $6.91 billion, a PE ratio of 20.87 and a beta of 0.29. The company has a 50-day simple moving average of $28.77 and a 200-day simple moving average of $27.84. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28.

Institutional Trading of South Bow

Several large investors have recently modified their holdings of SOBO. Norges Bank acquired a new stake in shares of South Bow during the second quarter valued at $26,248,000. Thornburg Investment Management Inc. lifted its holdings in South Bow by 114.5% in the 2nd quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock valued at $43,047,000 after purchasing an additional 883,918 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of South Bow by 51.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock worth $64,541,000 after purchasing an additional 799,707 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of South Bow by 467.7% during the third quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock worth $27,137,000 after buying an additional 790,111 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in South Bow by 485.9% during the third quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after acquiring an additional 650,648 shares during the last quarter.

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.