MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires New Stake in South Bow Co. (NYSE:SOBO)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of South Bow Co. (NYSE:SOBO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,352,454 shares of the company's stock, valued at approximately $55,447,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.13% of South Bow at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Wiser Advisor Group LLC acquired a new stake in shares of South Bow in the 4th quarter valued at about $27,000. Roxbury Financial LLC acquired a new position in South Bow during the fourth quarter worth approximately $29,000. BNP Paribas Financial Markets acquired a new position in South Bow during the fourth quarter worth approximately $29,000. Assetmark Inc. acquired a new position in South Bow during the fourth quarter worth approximately $33,000. Finally, Rhumbline Advisers bought a new stake in shares of South Bow during the fourth quarter worth approximately $34,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SOBO shares. Wolfe Research cut South Bow from an "outperform" rating to a "peer perform" rating in a report on Friday, March 7th. National Bankshares boosted their price objective on South Bow from $24.00 to $25.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. JPMorgan Chase & Co. started coverage on South Bow in a report on Friday, March 28th. They set a "neutral" rating and a $28.00 price objective for the company. Scotiabank boosted their price objective on South Bow from $26.00 to $27.00 and gave the stock a "sector perform" rating in a report on Friday, March 7th. Finally, CIBC cut South Bow from a "sector outperform" rating to a "neutral" rating and set a $25.00 price target for the company. in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, South Bow has an average rating of "Hold" and an average price target of $26.25.

South Bow Trading Down 4.4%

NYSE SOBO traded down $1.13 on Friday, hitting $24.80. 950,949 shares of the company's stock were exchanged, compared to its average volume of 879,497. The stock has a 50-day moving average of $25.02 and a 200-day moving average of $24.76. South Bow Co. has a 52 week low of $21.16 and a 52 week high of $27.60. The stock has a market cap of $5.16 billion and a price-to-earnings ratio of 13.40.

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

South Bow Dividend Announcement

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

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.