South Bow (NYSE:SOBO) Hits New 52-Week High – Here’s What Happened

Shares of South Bow Corporation (NYSE:SOBO) hit a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SOBO. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. National Bank Financial lifted 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. Barclays began coverage on shares of South Bow in a research report on Monday, December 8th. They issued an “equal weight” rating and a $27.00 price objective for the company. UBS Group assumed coverage on shares of South Bow in a research report on Thursday, December 11th. They set a “neutral” rating on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a report on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, South Bow currently has an average rating of “Hold” and an average target price of $29.00.

South Bow Stock Up 0.6%

The business’s 50 day moving average is $28.57 and its 200 day moving average is $27.76. 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 has a market cap of $6.88 billion, a P/E ratio of 20.78 and a beta of 0.28.

Institutional Trading of South Bow

Several large investors have recently bought and sold shares of SOBO. Capital International Investors raised its stake in shares of South Bow by 0.6% in the fourth quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock worth $425,840,000 after purchasing an additional 94,772 shares during the last quarter. Vanguard Group Inc. lifted its stake in South Bow by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after acquiring an additional 118,147 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of South Bow by 3.0% in the 4th quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock valued at $199,514,000 after acquiring an additional 209,864 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of South Bow by 8.0% in the 2nd 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 during the last quarter. Finally, Cibc World Market Inc. increased its stake in shares of South Bow by 11.8% in the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after acquiring an additional 376,514 shares during the period.

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.