South Bow (NYSE:SOBO) Posts Earnings Results, Beats Estimates By $0.20 EPS

by · The Markets Daily

South Bow (NYSE:SOBO – Get Free Report) released its earnings results on Thursday. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $0.54 earnings per share. The company’s quarterly revenue was up 3.1% compared to the same quarter last year.

South Bow Trading Up 0.0%

Shares of NYSE SOBO opened at $33.34 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 2.19. South Bow has a twelve month low of $21.16 and a twelve month high of $33.43. The company’s fifty day moving average is $28.87 and its 200-day moving average is $27.88. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 20.97 and a beta of 0.29.

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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend is Tuesday, March 31st. South Bow’s dividend payout ratio (DPR) is currently 125.79%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a research report on Monday, November 17th. Weiss Ratings upgraded shares of South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Jefferies Financial Group raised shares of South Bow from a “hold” rating to a “buy” rating in a report on Monday, December 15th. Wolfe Research lowered shares of South Bow from a “peer perform” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Wednesday, January 14th. Finally, UBS Group started coverage on shares of South Bow in a research report on Thursday, December 11th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, South Bow presently has an average rating of “Hold” and a consensus target price of $29.00.

Get Our Latest Stock Report on South Bow

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of South Bow by 51.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,348,827 shares of the company’s stock worth $64,541,000 after purchasing an additional 799,707 shares during the period. Qube Research & Technologies Ltd increased its stake in South Bow by 485.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 784,565 shares of the company’s stock worth $22,195,000 after purchasing an additional 650,648 shares in the last quarter. Two Sigma Investments LP increased its stake in South Bow by 421.9% during the 3rd quarter. Two Sigma Investments LP now owns 770,910 shares of the company’s stock worth $21,809,000 after purchasing an additional 623,189 shares in the last quarter. Geode Capital Management LLC raised its holdings in South Bow by 238.4% during the 4th quarter. Geode Capital Management LLC now owns 692,541 shares of the company’s stock worth $19,131,000 after buying an additional 487,904 shares during the period. Finally, Quadrature Capital Ltd lifted its stake in South Bow by 669.4% in the third quarter. Quadrature Capital Ltd now owns 467,000 shares of the company’s stock valued at $13,214,000 after buying an additional 406,302 shares in the last quarter.

South Bow Company Profile

(Get Free Report)

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.

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