South Bow (NYSE:SOBO) Hits New 52-Week High – Time to Buy?

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

Wall Street Analyst Weigh In

SOBO has been the topic of several analyst reports. UBS Group started 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 reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. US Capital Advisors lowered South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Barclays initiated coverage on South Bow in a research note on Monday, December 8th. They set an “equal weight” rating and a $27.00 target price for the company. Finally, Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a research report on Wednesday, January 14th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $29.00.

South Bow Stock Performance

The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 19.67 and a beta of 0.47. The firm has a fifty day simple moving average of $28.02 and a 200 day simple moving average of $27.56. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

Institutional Trading of South Bow

Several institutional investors have recently made changes to their positions in SOBO. City Holding Co. raised its position in South Bow by 277.4% in 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 grew its stake in shares of 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 purchasing an additional 645 shares during the period. IFP Advisors Inc raised its holdings in shares of 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. lifted its position in shares of South Bow by 1,993.8% during 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 during the period. Finally, Flagship Harbor Advisors LLC bought a new position in shares of South Bow during 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.