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

Shares of South Bow Corporation (NYSE:SOBO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.50 and last traded at $32.3310, with a volume of 528014 shares trading hands. The stock had previously closed at $31.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SOBO shares. Barclays started coverage on South Bow in a report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price target for the company. Morgan Stanley restated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. UBS Group initiated coverage on shares of South Bow in a research note on Thursday, December 11th. They set a “neutral” rating on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Finally, National Bank Financial raised their target price 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. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.00.

South Bow Trading Up 2.9%

The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The business’s 50 day moving average price is $28.18 and its 200-day moving average price is $27.63. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 20.58 and a beta of 0.47.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. City Holding Co. lifted its position in South Bow by 277.4% in the 4th quarter. City Holding Co. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 735 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of South Bow by 157.3% during the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after buying an additional 645 shares during the last quarter. IFP Advisors Inc boosted its position in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after buying an additional 1,069 shares during the period. Northwestern Mutual Wealth Management Co. grew 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 buying 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.