South Bow (NYSE:SOBO) Issues Quarterly Earnings Results

South Bow (NYSE:SOBO) issued its quarterly earnings data on Wednesday. The company reported $0.47 earnings per share for the quarter, beating 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 Stock Performance

Shares of NYSE SOBO traded down $0.76 during mid-day trading on Wednesday, hitting $34.07. The company had a trading volume of 720,737 shares, compared to its average volume of 762,056. The business’s 50-day simple moving average is $35.21 and its 200-day simple moving average is $34.48. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.52 and a quick ratio of 1.44. South Bow has a 12 month low of $25.30 and a 12 month high of $39.02. The firm has a market cap of $7.11 billion, a P/E ratio of 17.24 and a beta of 0.17.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Securities reiterated a “hold” rating on shares of South Bow in a research report on Thursday, July 16th. Barclays downgraded South Bow from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $35.00 to $33.00 in a report on Friday, October 9th. Raymond James Financial reiterated an “outperform” rating on shares of South Bow in a report on Wednesday, October 14th. Weiss Ratings lowered shares of South Bow from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, September 8th. Finally, Wall Street Zen cut South Bow from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, South Bow currently has a consensus rating of “Hold” and a consensus price target of $32.50.

About South Bow

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.