South Bow (NYSE:SOBO) Posts Quarterly Earnings Results, Beats Estimates By $0.19 EPS

South Bow (NYSE:SOBO) announced its quarterly earnings results on Thursday. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.19, Briefing.com reports. South Bow had a net margin of 16.84% and a return on equity of 15.13%. The company had revenue of $503.00 million during the quarter, compared to the consensus estimate of $500.57 million. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year.

South Bow Trading Up 0.5%

Shares of NYSE SOBO traded up $0.17 during mid-day trading on Friday, reaching $33.48. The company had a trading volume of 165,672 shares, compared to its average volume of 943,766. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 21.06 and a beta of 0.29. South Bow has a 52 week low of $21.16 and a 52 week high of $34.01. The business’s 50-day moving average is $28.87 and its 200-day moving average is $27.88. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

South Bow Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid 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 payout ratio is currently 125.79%.

Hedge Funds Weigh In On South Bow

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc grew its stake in South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock worth $34,000 after purchasing an additional 1,069 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of South Bow by 1,993.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after acquiring an additional 1,276 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in South Bow in the fourth quarter worth about $61,000. Advisory Services Network LLC purchased a new position in South Bow during the 3rd quarter valued at about $66,000. Finally, Quadrant Capital Group LLC bought a new position in shares of South Bow during the third quarter valued at approximately $87,000.

Analysts Set New Price Targets

Several research analysts have weighed in on SOBO shares. Morgan Stanley reiterated an “underweight” rating on shares of South Bow in a research report on Tuesday, December 2nd. Scotiabank reaffirmed a “sector perform” rating and set a $30.00 price objective on shares of South Bow in a research report on Friday, January 16th. Royal Bank Of Canada restated an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. UBS Group assumed coverage on South Bow in a research note on Thursday, December 11th. They issued a “neutral” rating on the stock. Finally, National Bank Financial raised their target price on shares of South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, South Bow has a consensus rating of “Hold” and a consensus price target of $29.00.

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.