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

Shares of South Bow Corporation (NYSE:SOBO) reached a new 52-week high during trading on Thursday . The stock traded as high as $29.80 and last traded at $29.7540, with a volume of 40186 shares. The stock had previously closed at $29.45.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SOBO. Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a research note on Monday, December 15th. Scotiabank reiterated a “sector perform” rating and issued a $30.00 target price on shares of South Bow in a report on Friday, January 16th. Wolfe Research lowered South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research note on Wednesday, January 14th. National Bank Financial raised their target price on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $29.00.

South Bow Stock Performance

The firm’s 50 day moving average is $27.63 and its 200 day moving average is $27.36. 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 stock has a market cap of $6.15 billion, a P/E ratio of 18.56 and a beta of 0.47.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $461.00 million during the quarter, compared to the consensus estimate of $498.00 million. South Bow had a net margin of 16.84% and a return on equity of 15.13%. South Bow’s revenue for the quarter was down 13.7% on a year-over-year basis. Analysts anticipate that South Bow Corporation will post 1.74 EPS for the current year.

Hedge Funds Weigh In On South Bow

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of South Bow in the second quarter worth about $26,248,000. Thornburg Investment Management Inc. lifted its holdings in South Bow by 114.5% in the second quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock valued at $43,047,000 after acquiring an additional 883,918 shares during the period. American Century Companies Inc. boosted its position in South Bow by 467.7% in the 3rd quarter. American Century Companies Inc. now owns 959,031 shares of the company’s stock worth $27,137,000 after purchasing an additional 790,111 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in shares of South Bow by 485.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after purchasing an additional 650,648 shares during the period. Finally, Two Sigma Investments LP increased its holdings in shares of South Bow by 421.9% during the 3rd quarter. Two Sigma Investments LP now owns 770,910 shares of the company’s stock valued at $21,809,000 after purchasing an additional 623,189 shares in 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.