South Bow (NYSE:SOBO) Sets New 12-Month High – What’s Next?

South Bow Co. (NYSE:SOBO)’s share price hit a new 52-week high on Wednesday . The company traded as high as $27.58 and last traded at $27.56, with a volume of 976194 shares. The stock had previously closed at $26.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SOBO shares. TD Securities assumed coverage on South Bow in a research report on Wednesday, January 15th. They issued a “hold” rating for the company. Tudor Pickering upgraded South Bow to a “strong-buy” rating in a report on Tuesday, November 19th. Scotiabank increased their price objective on shares of South Bow from $24.00 to $26.00 and gave the stock a “sector perform” rating in a report on Thursday, February 13th. CIBC upgraded shares of South Bow from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $23.00 to $25.00 in a report on Thursday, January 9th. Finally, Wells Fargo & Company lowered shares of South Bow from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

South Bow Stock Up 3.8 %

The stock has a 50 day moving average of $24.49. The firm has a market cap of $5.71 billion and a P/E ratio of 14.84.

Institutional Trading of South Bow

Several large investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new position in shares of South Bow during the fourth quarter worth about $461,249,000. Capital International Investors acquired a new stake in South Bow in the fourth quarter valued at approximately $315,469,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of South Bow during the fourth quarter valued at approximately $290,786,000. Vanguard Group Inc. acquired a new position in shares of South Bow during the fourth quarter worth $206,467,000. Finally, Bank of Montreal Can purchased a new position in shares of South Bow in the fourth quarter valued at $126,068,000.

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.