TD Asset Management Inc Acquires 229,806 Shares of South Bow Corporation $SOBO

TD Asset Management Inc increased its holdings in South Bow Corporation (NYSE:SOBO) by 15.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,696,527 shares of the company’s stock after purchasing an additional 229,806 shares during the period. TD Asset Management Inc’s holdings in South Bow were worth $48,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of South Bow during the second quarter valued at approximately $26,248,000. Thornburg Investment Management Inc. boosted its position in shares of South Bow by 114.5% during the second quarter. Thornburg Investment Management Inc. now owns 1,656,020 shares of the company’s stock worth $43,047,000 after acquiring an additional 883,918 shares during the last quarter. Bank of Montreal Can grew its stake in South Bow by 8.0% during the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock valued at $159,405,000 after acquiring an additional 452,012 shares in the last quarter. Jane Street Group LLC grew its stake in South Bow by 894.3% during the second quarter. Jane Street Group LLC now owns 324,392 shares of the company’s stock valued at $8,432,000 after acquiring an additional 365,234 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in South Bow by 15.7% in the 2nd quarter. Bank of America Corp DE now owns 2,241,103 shares of the company’s stock valued at $58,067,000 after acquiring an additional 304,499 shares during the last quarter.

South Bow Price Performance

NYSE:SOBO opened at $32.15 on Friday. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of 20.22 and a beta of 0.47. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28. The business has a 50 day simple moving average of $28.47 and a 200-day simple moving average of $27.73. South Bow Corporation has a 1 year low of $21.16 and a 1 year high of $33.21.

Analyst Upgrades and Downgrades

Several research analysts have commented on SOBO shares. National Bank Financial increased their price objective on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Jefferies Financial Group upgraded South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Scotiabank reaffirmed a “sector perform” rating and issued a $30.00 price objective on shares of South Bow in a research note on Friday, January 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of South Bow in a report 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 data from MarketBeat, South Bow currently has an average rating of “Hold” and a consensus price target of $29.00.

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.