South Bow Corporation (SOBO) To Go Ex-Dividend on September 29th

South Bow Corporation (NYSE:SOBO) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Tuesday, September 29th will be paid a dividend of 0.50 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 29th.

South Bow has a payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect South Bow to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 98.5%.

South Bow Price Performance

Shares of SOBO stock opened at $35.32 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. South Bow has a twelve month low of $25.01 and a twelve month high of $38.94. The company has a market cap of $7.37 billion, a P/E ratio of 15.98 and a beta of 0.15. The business has a fifty day simple moving average of $36.63 and a 200 day simple moving average of $34.00.

South Bow (NYSE:SOBO) last released its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $546.00 million for the quarter, compared to analysts’ expectations of $496.87 million. South Bow had a return on equity of 15.84% and a net margin of 22.99%. On average, sell-side analysts forecast that South Bow will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On South Bow

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors raised its holdings in South Bow by 0.6% during the 4th quarter. Capital International Investors now owns 15,483,085 shares of the company’s stock worth $425,840,000 after purchasing an additional 94,772 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of South Bow by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,667,365 shares of the company’s stock valued at $238,387,000 after purchasing an additional 118,147 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of South Bow by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 7,262,965 shares of the company’s stock worth $199,514,000 after buying an additional 209,864 shares during the period. Cibc World Market Inc. increased its position in shares of South Bow by 11.8% during the fourth quarter. Cibc World Market Inc. now owns 3,571,092 shares of the company’s stock worth $98,241,000 after buying an additional 376,514 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in South Bow by 24.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,914,614 shares of the company’s stock worth $97,134,000 after buying an additional 565,787 shares during the last quarter.

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.