South Bow (NYSE:SOBO) Posts Earnings Results

South Bow (NYSE:SOBO) issued its quarterly earnings results on Thursday. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.20, Briefing.com reports. South Bow had a return on equity of 15.13% and a net margin of 16.84%.South Bow’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS.

South Bow Stock Up 0.0%

Shares of SOBO stock traded up $0.01 on Thursday, reaching $33.34. 1,261,766 shares of the stock were exchanged, compared to its average volume of 875,838. The business’s 50 day moving average price is $28.87 and its 200 day moving average price is $27.88. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 17.54 and a beta of 0.29. South Bow has a twelve month low of $21.16 and a twelve month high of $33.43. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Weiss Ratings upgraded South Bow from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Royal Bank Of Canada reissued an “outperform” rating on shares of South Bow in a research note on Monday, November 17th. BMO Capital Markets restated a “market perform” rating on shares of South Bow in a report on Monday, November 17th. Jefferies Financial Group raised South Bow from a “hold” rating to a “buy” rating in a research report on Monday, December 15th. Finally, Scotiabank reiterated a “sector perform” rating and set a $30.00 price target on shares of South Bow in a research note on Friday, January 16th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Institutional Investors Weigh In On South Bow

A number of institutional investors and hedge funds have recently bought and sold shares of SOBO. Parkside Financial Bank & Trust raised its stake in shares of South Bow by 10.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after purchasing an additional 344 shares during the last quarter. Quantinno Capital Management LP increased its stake in South Bow by 4.9% in the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after buying an additional 478 shares during the period. LPL Financial LLC raised its position in South Bow by 1.6% during the 4th quarter. LPL Financial LLC now owns 38,499 shares of the company’s stock worth $1,058,000 after buying an additional 615 shares during the last quarter. Commonwealth Equity Services LLC raised its position in South Bow by 0.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 71,693 shares of the company’s stock worth $1,969,000 after buying an additional 656 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of South Bow by 4.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 24,292 shares of the company’s stock worth $629,000 after acquiring an additional 988 shares during the period.

South Bow Company Profile

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.