South Bow (NYSE:SOBO) Announces Quarterly Earnings Results

South Bow (NYSE:SOBO) released its quarterly earnings results on Thursday. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.20, Briefing.com reports. South Bow had a net margin of 16.84% and a return on equity of 15.13%. During the same quarter last year, the company posted $0.54 earnings per share. South Bow’s revenue for the quarter was up 3.1% compared to the same quarter last year.

South Bow Price Performance

NYSE:SOBO traded up $0.01 during mid-day trading on Thursday, reaching $33.34. The stock had a trading volume of 1,261,766 shares, compared to its average volume of 964,353. South Bow has a one year low of $21.16 and a one year high of $33.43. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. The firm has a 50 day moving average price of $28.87 and a two-hundred day moving average price of $27.88. The stock has a market capitalization of $6.94 billion, a P/E ratio of 20.97 and a beta of 0.29.

Analysts Set New Price Targets

Several equities analysts recently commented on SOBO shares. Jefferies Financial Group upgraded South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. UBS Group initiated coverage on shares of South Bow in a research report on Thursday, December 11th. They issued a “neutral” rating on the stock. Scotiabank reaffirmed a “sector perform” rating and issued a $30.00 target price on shares of South Bow in a research note on Friday, January 16th. Weiss Ratings raised shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, Morgan Stanley reissued an “underweight” rating on shares of South Bow in a report on Tuesday, December 2nd. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, South Bow has an average rating of “Hold” and an average price target of $29.00.

Hedge Funds Weigh In On South Bow

Several institutional investors and hedge funds have recently made changes to their positions in SOBO. Cubist Systematic Strategies LLC purchased a new stake in shares of South Bow in the 1st quarter worth $85,000. Amundi purchased a new position in shares of South Bow during the first quarter valued at $588,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of South Bow by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 199,035 shares of the company’s stock valued at $5,079,000 after acquiring an additional 29,542 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in South Bow in the first quarter worth about $885,000. Finally, Geode Capital Management LLC grew its holdings in South Bow by 7.5% during the 2nd quarter. Geode Capital Management LLC now owns 172,491 shares of the company’s stock worth $4,499,000 after acquiring an additional 11,984 shares in 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.