2,352,454 Shares in South Bow Co. (NYSE:SOBO) Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,352,454 shares of the company's stock, valued at approximately $55,447,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.13% of South Bow as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. FMR LLC purchased a new position in shares of South Bow in the fourth quarter worth $461,249,000. Capital International Investors bought a new position in South Bow in the 4th quarter worth about $315,469,000. Price T Rowe Associates Inc. MD bought a new position in South Bow in the 4th quarter worth about $290,786,000. Vanguard Group Inc. bought a new position in South Bow in the 4th quarter worth about $206,467,000. Finally, Bank of Montreal Can bought a new position in South Bow in the 4th quarter worth about $126,068,000.

South Bow Trading Down 4.4%

South Bow stock traded down $1.13 during midday trading on Friday, hitting $24.80. The stock had a trading volume of 950,949 shares, compared to its average volume of 879,497. The firm's fifty day moving average is $25.03 and its two-hundred day moving average is $24.75. The company has a market capitalization of $5.16 billion and a PE ratio of 13.40. South Bow Co. has a 52-week low of $21.16 and a 52-week high of $27.60.

South Bow (NYSE:SOBO - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $498.00 million during the quarter, compared to analysts' expectations of $527.00 million. South Bow's revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts predict that South Bow Co. will post 1.74 earnings per share for the current fiscal year.

South Bow Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 8.07%. The ex-dividend date of this dividend is Monday, June 30th. South Bow's payout ratio is currently 108.11%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOBO. JPMorgan Chase & Co. began coverage on shares of South Bow in a research note on Friday, March 28th. They set a "neutral" rating and a $28.00 target price on the stock. Royal Bank of Canada restated an "outperform" rating on shares of South Bow in a research note on Friday, March 7th. Scotiabank upped their target price on shares of South Bow from $26.00 to $27.00 and gave the company a "sector perform" rating in a research note on Friday, March 7th. National Bankshares upped their price target on shares of South Bow from $24.00 to $25.00 and gave the company a "sector perform" rating in a research report on Friday, March 7th. Finally, CIBC cut shares of South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $26.25.

South Bow 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.