South Bow (NYSE:SOBO) Posts Earnings Results, Beats Expectations By $0.04 EPS

South Bow (NYSE:SOBO) announced its earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04, Zacks reports. South Bow had a net margin of 22.99% and a return on equity of 15.84%.

South Bow Trading Down 2.2%

Shares of South Bow stock traded down $0.76 during trading hours on Wednesday, hitting $34.07. The company’s stock had a trading volume of 720,737 shares, compared to its average volume of 762,056. The business has a fifty day moving average of $35.21 and a 200 day moving average of $34.48. The company has a market capitalization of $7.11 billion, a PE ratio of 17.24 and a beta of 0.17. The company has a quick ratio of 1.44, a current ratio of 1.52 and a debt-to-equity ratio of 2.15. South Bow has a 1-year low of $25.30 and a 1-year high of $39.02.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Scotiabank lifted their price objective on South Bow from $36.00 to $39.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a report on Monday, August 10th. Wall Street Zen cut South Bow from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Canadian Imperial Bank of Commerce dropped their price target on South Bow from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Finally, Weiss Ratings downgraded South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.50.

South Bow Company Profile

South Bow Corp. (NYSE: SOBO) is a liquids-focused energy infrastructure company headquartered in Calgary, Alberta. The company owns and operates crude oil transportation and storage assets that connect Canadian production regions with refineries, storage hubs and export markets in the United States.

South Bow’s primary asset is the Keystone Pipeline System, which transports crude oil from Western Canada to destinations in the U.S. Midwest and along the U.S. Gulf Coast. The company also operates the Marketlink system, which moves crude from Cushing, Oklahoma, to the Gulf Coast, as well as Canadian pipeline assets serving oil sands and other production areas.

South Bow began operating as an independent publicly traded company in October 2024 following its separation from TC Energy.