AGF Management Ltd. Invests $877,000 in South Bow Corporation $SOBO

AGF Management Ltd. acquired a new position in shares of South Bow Corporation (NYSE:SOBO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,792 shares of the company’s stock, valued at approximately $877,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SOBO. Allianz Asset Management GmbH raised its position in South Bow by 61.5% during the second quarter. Allianz Asset Management GmbH now owns 26,410 shares of the company’s stock valued at $684,000 after acquiring an additional 10,058 shares in the last quarter. Bank of Montreal Can grew its position in South Bow by 8.0% in the second quarter. Bank of Montreal Can now owns 6,136,658 shares of the company’s stock worth $159,405,000 after acquiring an additional 452,012 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of South Bow by 1.2% during the 1st quarter. Scotia Capital Inc. now owns 1,734,937 shares of the company’s stock worth $44,238,000 after purchasing an additional 19,752 shares during the last quarter. Boston Partners bought a new position in shares of South Bow during the 1st quarter valued at $32,840,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of South Bow by 650.4% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,526,100 shares of the company’s stock valued at $39,541,000 after purchasing an additional 1,322,729 shares in the last quarter.

South Bow Stock Up 0.1%

SOBO opened at $26.26 on Wednesday. The business has a 50 day moving average of $27.24 and a 200-day moving average of $26.69. The stock has a market capitalization of $5.47 billion and a price-to-earnings ratio of 18.37. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19. South Bow Corporation has a 1-year low of $21.16 and a 1-year high of $29.19.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of South Bow from $27.00 to $28.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of South Bow in a research note on Friday, August 8th. CIBC increased their price objective on South Bow from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of South Bow in a report on Wednesday, October 8th. Finally, National Bankshares upped their target price on South Bow from $25.00 to $26.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.40.

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.