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

South Bow Corporation (NYSE:SOBO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $33.23 and last traded at $33.10, with a volume of 483290 shares. The stock had previously closed at $32.85.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SOBO shares. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research note on Monday, November 17th. UBS Group assumed coverage on shares of South Bow in a research note on Thursday, December 11th. They set a “neutral” rating on the stock. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Wolfe Research cut 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, Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, South Bow currently has a consensus rating of “Hold” and an average price target of $29.00.

South Bow Trading Up 0.6%

The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. The company’s 50-day moving average is $28.57 and its 200-day moving average is $27.76. The stock has a market capitalization of $6.88 billion, a price-to-earnings ratio of 20.78 and a beta of 0.28.

Institutional Investors Weigh In On South Bow

A number of institutional investors have recently modified their holdings of SOBO. City Holding Co. increased its stake in South Bow by 277.4% during 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 during the period. EverSource Wealth Advisors LLC boosted 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 buying an additional 645 shares during the period. IFP Advisors Inc grew its stake in shares of South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after acquiring an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of South Bow by 1,993.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock worth $35,000 after acquiring an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of South Bow in the fourth quarter valued at $39,000.

About South Bow

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.