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

South Bow (NYSE:SOBO) released its quarterly earnings data on Thursday. The company reported $0.61 earnings per share (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%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS.

South Bow Stock Up 0.0%

NYSE:SOBO traded up $0.01 during mid-day trading on Thursday, hitting $33.34. 1,261,766 shares of the company’s stock traded hands, compared to its average volume of 964,353. The company has a fifty day moving average of $28.87 and a 200 day moving average of $27.88. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 1.36. South Bow has a twelve month low of $21.16 and a twelve month high of $33.43. The company has a market capitalization of $6.94 billion, a P/E ratio of 20.97 and a beta of 0.29.

Institutional Investors Weigh In On South Bow

A number of large investors have recently modified their holdings of SOBO. IFP Advisors Inc boosted its holdings in South Bow by 780.3% in the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after purchasing an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of South Bow by 1,993.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,340 shares of the company’s stock valued at $35,000 after buying an additional 1,276 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of South Bow in the 4th quarter valued at about $61,000. Advisory Services Network LLC purchased a new stake in shares of South Bow in the third quarter worth about $66,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in South Bow during the first quarter worth about $85,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SOBO. National Bank Financial increased their target price on South Bow from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 17th. Morgan Stanley restated an “underweight” rating on shares of South Bow in a research note on Tuesday, December 2nd. Scotiabank reiterated a “sector perform” rating and issued a $30.00 target price on shares of South Bow in a research note on Friday, January 16th. BMO Capital Markets reiterated a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Finally, Barclays started coverage on shares of South Bow in a research report on Monday, December 8th. They set an “equal weight” rating and a $27.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.