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

South Bow Corporation (NYSE:SOBO) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Tuesday, September 29th will be paid a dividend of 0.50 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 29th.

South Bow has a dividend 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. Research analysts expect South Bow to earn $2.03 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 98.5%.

South Bow Stock Performance

NYSE:SOBO traded down $0.02 during trading hours on Thursday, reaching $35.45. The stock had a trading volume of 54,217 shares, compared to its average volume of 930,943. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.37 and a current ratio of 1.51. The stock has a 50 day simple moving average of $36.66 and a 200 day simple moving average of $33.93. South Bow has a 12-month low of $25.01 and a 12-month high of $38.94. The stock has a market cap of $7.39 billion, a P/E ratio of 17.49 and a beta of 0.15.

South Bow (NYSE:SOBO) last issued its earnings results on Wednesday, August 5th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $546.00 million during the quarter, compared to analyst estimates of $496.87 million. South Bow had a net margin of 21.32% and a return on equity of 15.24%. On average, research analysts forecast that South Bow will post 1.78 EPS for the current fiscal year.

Hedge Funds Weigh In On South Bow

Several large investors have recently added to or reduced their stakes in SOBO. Steadtrust LLC boosted its stake in South Bow by 0.9% during the second quarter. Steadtrust LLC now owns 33,920 shares of the company’s stock valued at $1,195,000 after buying an additional 300 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in South Bow by 10.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,770 shares of the company’s stock worth $104,000 after acquiring an additional 344 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of South Bow by 4.9% during the 2nd quarter. Quantinno Capital Management LP now owns 10,175 shares of the company’s stock valued at $264,000 after acquiring an additional 478 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of South Bow by 140.5% in the first quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $28,000 after purchasing an additional 496 shares in the last quarter. Finally, apricus wealth LLC raised its position in shares of South Bow by 4.1% during the 1st quarter. apricus wealth LLC now owns 15,180 shares of the company’s stock valued at $506,000 after buying an additional 600 shares in the last quarter.

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.