Rinkey Investments grew its holdings in Brookfield Corporation (NYSE:BN – Free Report) by 108.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,717 shares of the company’s stock after acquiring an additional 23,312 shares during the period. Rinkey Investments’ holdings in Brookfield were worth $2,052,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield in the 4th quarter valued at $27,000. Hilltop National Bank raised its stake in shares of Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the period. New England Capital Financial Advisors LLC raised its stake in shares of Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of Brookfield by 49.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock valued at $37,000 after acquiring an additional 270 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Brookfield in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.
Brookfield Trading Down 1.7%
NYSE BN opened at $46.29 on Tuesday. Brookfield Corporation has a one year low of $37.54 and a one year high of $49.56. The company has a 50-day simple moving average of $42.58 and a 200-day simple moving average of $44.92. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The firm has a market capitalization of $113.45 billion, a PE ratio of 93.83 and a beta of 1.55.
Brookfield Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio (DPR) is presently 57.14%.
Analyst Upgrades and Downgrades
BN has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Royal Bank Of Canada lifted their price target on shares of Brookfield from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $55.65.
Get Our Latest Research Report on BN
About Brookfield
Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.
Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.
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