South Bow Corporation (SOBO) to Distribute Quarterly Dividend of $0.50 on July 15th

South Bow Corporation (NYSE:SOBO) declared a quarterly dividend on Thursday, May 7th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.50 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 5.5%. The ex-dividend date is Tuesday, June 30th.

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 Down 0.0%

SOBO stock opened at $36.57 on Friday. The firm has a 50 day moving average of $35.68 and a 200 day moving average of $32.06. The stock has a market capitalization of $7.63 billion, a PE ratio of 18.01 and a beta of 0.14. The company has a quick ratio of 1.37, a current ratio of 1.51 and a debt-to-equity ratio of 2.16. South Bow has a 52 week low of $25.01 and a 52 week high of $38.45.

South Bow (NYSE:SOBO) last released its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.02). The company had revenue of $491.00 million for the quarter, compared to analysts’ expectations of $491.21 million. South Bow had a return on equity of 15.24% and a net margin of 21.32%.The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. Sell-side analysts forecast that South Bow will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SOBO. Raymond James Financial started coverage on South Bow in a research report on Tuesday, June 9th. They issued an “outperform” rating on the stock. Wall Street Zen lowered South Bow from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. TD Securities restated a “hold” rating on shares of South Bow in a research note on Friday, May 1st. The Goldman Sachs Group assumed coverage on South Bow in a report on Monday, April 20th. They set a “sell” rating and a $29.00 target price for the company. Finally, Barclays upped their target price on South Bow from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Four equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.57.

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.