South Bow (NYSE:SOBO) Hits New 12-Month High – Here’s What Happened

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

Analysts Set New Price Targets

A number of analysts have issued reports on SOBO shares. Weiss Ratings raised South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Jefferies Financial Group upgraded shares of South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. 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. National Bank Financial increased their target price 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. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, South Bow currently has an average rating of “Hold” and an average price target of $29.00.

South Bow Stock Performance

The company’s 50-day moving average is $28.47 and its two-hundred day moving average is $27.73. The company has a market capitalization of $6.70 billion, a P/E ratio of 16.91 and a beta of 0.47. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SOBO. Norges Bank bought a new stake in South Bow during the 2nd quarter valued at $26,248,000. Thornburg Investment Management Inc. grew its stake in shares of South Bow by 114.5% in the second quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock worth $43,047,000 after purchasing an additional 883,918 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in South Bow by 51.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock valued at $64,541,000 after purchasing an additional 799,707 shares during the period. American Century Companies Inc. raised its position in South Bow by 467.7% during the 3rd quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock valued at $27,137,000 after purchasing an additional 790,111 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in South Bow by 485.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock valued at $22,195,000 after purchasing 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.