South Bow Corporation (NYSE:SOBO) Receives $29.40 Consensus PT from Brokerages

Shares of South Bow Corporation (NYSE:SOBO) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $29.40.

SOBO has been the subject of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Friday, August 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of South Bow in a report on Wednesday, October 8th. CIBC upped their target price on shares of South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. Finally, US Capital Advisors lowered shares of South Bow from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th.

South Bow Stock Performance

SOBO stock opened at $26.67 on Monday. The stock has a market capitalization of $5.55 billion and a PE ratio of 18.65. South Bow has a 12-month low of $21.16 and a 12-month high of $29.19. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19. The stock’s 50 day simple moving average is $27.23 and its 200 day simple moving average is $26.69.

Institutional Investors Weigh In On South Bow

A number of hedge funds have recently added to or reduced their stakes in the stock. Aviso Financial Inc. lifted its holdings in shares of South Bow by 8.2% during the 3rd quarter. Aviso Financial Inc. now owns 5,200 shares of the company’s stock valued at $147,000 after buying an additional 394 shares during the period. HighTower Advisors LLC increased its position in South Bow by 0.4% during the first quarter. HighTower Advisors LLC now owns 112,769 shares of the company’s stock valued at $2,878,000 after acquiring an additional 451 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in South Bow by 4.9% in the second quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after acquiring an additional 478 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in South Bow by 4.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,565 shares of the company’s stock valued at $378,000 after acquiring an additional 616 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in South Bow by 157.3% in the third quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the last quarter.

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.