South Bow (NYSE:SOBO) Sets New 1-Year High – Still a Buy?

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wolfe Research lowered 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. UBS Group began coverage on South Bow in a research report on Thursday, December 11th. They set a “neutral” rating for the company. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. Finally, National Bank Financial lifted their price objective on South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, South Bow presently has a consensus rating of “Reduce” and an average target price of $29.00.

South Bow Trading Up 2.0%

The business has a 50 day simple moving average of $27.88 and a 200-day simple moving average of $27.50. 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 stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 19.22 and a beta of 0.47.

Hedge Funds Weigh In On South Bow

A number of hedge funds have recently made changes to their positions in SOBO. City Holding Co. lifted its position in shares of South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 735 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 worth $30,000 after buying an additional 645 shares during the period. IFP Advisors Inc lifted its holdings in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $35,000 after buying an additional 1,276 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in South Bow in the 4th quarter valued at about $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.