South Bow Corporation (NYSE:SOBO) Announces Quarterly Dividend of $0.50

South Bow Corporation (NYSE:SOBO) announced a quarterly dividend on Thursday, March 5th. Investors of record on Tuesday, March 31st will be given a dividend of 0.50 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date is Tuesday, March 31st.

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. Equities analysts expect South Bow to earn $1.71 per share next year, which means the company may not be able to cover its $2.00 annual dividend with an expected future payout ratio of 117.0%.

South Bow Trading Up 0.0%

South Bow stock opened at $33.34 on Friday. South Bow has a 12-month low of $21.16 and a 12-month high of $33.43. The stock has a market capitalization of $6.94 billion, a PE ratio of 20.97 and a beta of 0.29. The firm has a 50 day simple moving average of $28.87 and a 200-day simple moving average of $27.88. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.36 and a quick ratio of 1.28.

South Bow (NYSE:SOBO) last announced its earnings results on Thursday, March 5th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.20. South Bow had a return on equity of 15.13% and a net margin of 16.84%.During the same quarter in the previous year, the company earned $0.54 earnings per share. South Bow’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that South Bow will post 1.74 EPS for the current fiscal year.

Institutional Trading of South Bow

Institutional investors and hedge funds have recently made changes to their positions in the stock. City Holding Co. increased its position in South Bow by 277.4% during the fourth quarter. City Holding Co. now owns 1,000 shares of the company’s stock worth $27,000 after acquiring an additional 735 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of South Bow by 157.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,055 shares of the company’s stock worth $30,000 after purchasing an additional 645 shares during the period. IFP Advisors Inc raised its position in shares of South Bow by 780.3% during the third quarter. IFP Advisors Inc now owns 1,206 shares of the company’s stock valued at $34,000 after buying an additional 1,069 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake 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 buying an additional 1,276 shares during the period. Finally, Flagship Harbor Advisors LLC acquired a new stake in South Bow during the fourth quarter worth about $39,000.

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.