South Bow (NYSE:SOBO) Announces Earnings Results, Beats Estimates By $0.21 EPS

South Bow (NYSE:SOBO) released its earnings results on Thursday. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.21, Briefing.com reports. The firm had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. South Bow had a return on equity of 15.69% and a net margin of 21.80%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share.

South Bow Stock Up 0.5%

SOBO stock traded up $0.15 during trading hours on Tuesday, hitting $33.53. The company’s stock had a trading volume of 91,734 shares, compared to its average volume of 964,902. 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 capitalization of $6.98 billion, a PE ratio of 16.11 and a beta of 0.28. South Bow has a 12 month low of $21.16 and a 12 month high of $34.01. The stock has a 50 day moving average price of $29.07 and a two-hundred day moving average price of $27.96.

South Bow Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, March 31st. South Bow’s payout ratio is currently 96.15%.

Analyst Ratings Changes

SOBO has been the subject of a number of recent analyst reports. National Bank Financial raised their price objective on shares of South Bow from $27.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 17th. Barclays increased their target price on South Bow from $27.00 to $33.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research downgraded South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 price target on the stock. in a report on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research report on Monday, November 17th. Finally, UBS Group initiated coverage on South Bow in a research note on Thursday, December 11th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, South Bow has a consensus rating of “Hold” and an average price target of $30.43.

Institutional Investors Weigh In On South Bow

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc grew its holdings in South Bow by 780.3% in the 3rd quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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 buying an additional 1,276 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of South Bow in the fourth quarter valued at approximately $61,000. Advisory Services Network LLC acquired a new stake in shares of South Bow in the third quarter worth $66,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of South Bow in the first quarter worth $85,000.

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.