Thornburg Investment Management Inc. Boosts Stake in South Bow Corporation $SOBO

Thornburg Investment Management Inc. boosted its position in South Bow Corporation (NYSE:SOBO) by 20.6% in the 3rd quarter, Holdings Channel reports. The firm owned 1,997,301 shares of the company’s stock after buying an additional 341,281 shares during the quarter. Thornburg Investment Management Inc.’s holdings in South Bow were worth $56,504,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Quantinno Capital Management LP raised its holdings in shares of South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock worth $264,000 after buying an additional 478 shares during the period. EverSource Wealth Advisors LLC grew its position in South Bow by 157.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock valued at $30,000 after acquiring an additional 645 shares during the last quarter. Metis Global Partners LLC increased its stake in South Bow by 6.0% in the second quarter. Metis Global Partners LLC now owns 13,609 shares of the company’s stock worth $353,000 after purchasing an additional 769 shares during the period. Ameriprise Financial Inc. lifted its position in shares of South Bow by 4.2% during the second quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company’s stock worth $629,000 after purchasing an additional 988 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of South Bow by 8.1% during the third quarter. Jones Financial Companies Lllp now owns 15,535 shares of the company’s stock worth $440,000 after purchasing an additional 1,164 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Scotiabank restated a “sector perform” rating and issued a $30.00 price target on shares of South Bow in a report on Friday, January 16th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target for the company. in a report on Wednesday, January 14th. Finally, Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Three equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.00.

South Bow Stock Up 2.9%

Shares of NYSE SOBO opened at $32.73 on Thursday. South Bow Corporation has a 12-month low of $21.16 and a 12-month high of $32.75. The stock’s fifty day simple moving average is $28.28 and its two-hundred day simple moving average is $27.66. The stock has a market capitalization of $6.81 billion, a PE ratio of 20.58 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.

South Bow 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.