MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $70.58 Million Position in South Bow Corporation $SOBO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in South Bow Corporation (SOBO) by 17.6% in Q1, owning over 2.76 million shares valued at approximately $70.58 million.
• South Bow's recent quarterly earnings exceeded expectations, reporting $0.42 earnings per share against a consensus estimate of $0.38, and generated $524 million in revenue.
• The company declared a quarterly dividend of $0.50, with a yield of 7.2%, scheduled for payment on October 15th, while its dividend payout ratio is 108.11%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of South Bow Corporation (NYSE:SOBO - Free Report) by 17.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,765,548 shares of the company's stock after acquiring an additional 413,094 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.33% of South Bow worth $70,577,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SOBO. First Trust Advisors LP acquired a new stake in South Bow during the 4th quarter worth about $667,000. Dimensional Fund Advisors LP acquired a new stake in South Bow in the fourth quarter worth $15,747,000. Tower Research Capital LLC TRC acquired a new stake in South Bow in the fourth quarter worth $35,000. Northern Trust Corp acquired a new stake in South Bow in the fourth quarter worth $3,389,000. Finally, AXA S.A. acquired a new stake in South Bow in the fourth quarter worth $320,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SOBO. Royal Bank Of Canada restated an "outperform" rating on shares of South Bow in a report on Friday, August 8th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $27.00 price target on shares of South Bow in a report on Thursday, August 21st. National Bankshares raised their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. Finally, CIBC raised their price target on shares of South Bow from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.80.

South Bow Stock Up 0.3%

South Bow stock opened at $27.61 on Friday. South Bow Corporation has a 1-year low of $21.12 and a 1-year high of $28.22. The firm has a market capitalization of $5.75 billion and a price-to-earnings ratio of 14.92. The firm's fifty day moving average price is $26.83 and its two-hundred day moving average price is $25.98. The company has a current ratio of 1.28, a quick ratio of 1.20 and a debt-to-equity ratio of 2.19.

South Bow (NYSE:SOBO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. The business had revenue of $524.00 million during the quarter, compared to the consensus estimate of $449.00 million. On average, equities research analysts predict that South Bow Corporation will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Monday, September 29th. South Bow's dividend payout ratio (DPR) is 108.11%.

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.

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