Obermeyer Wealth Partners raised its position in Brookfield Corporation (NYSE:BN – Free Report) by 3.1% in the 3rd quarter, Holdings Channel reports. The fund owned 662,416 shares of the company’s stock after purchasing an additional 19,950 shares during the period. Brookfield accounts for 1.0% of Obermeyer Wealth Partners’ holdings, making the stock its 28th biggest holding. Obermeyer Wealth Partners’ holdings in Brookfield were worth $24,152,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Foster Victor Wealth Advisors LLC grew its stake in shares of Brookfield by 14.6% during the third quarter. Foster Victor Wealth Advisors LLC now owns 14,027 shares of the company’s stock valued at $511,000 after acquiring an additional 1,791 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Brookfield in the third quarter valued at $35,000. Axxcess Wealth Management LLC boosted its stake in Brookfield by 120.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock valued at $385,000 after acquiring an additional 5,774 shares during the last quarter. Sowell Financial Services LLC boosted its stake in Brookfield by 50.9% during the 3rd quarter. Sowell Financial Services LLC now owns 184,147 shares of the company’s stock valued at $6,714,000 after acquiring an additional 62,138 shares during the last quarter. Finally, Luma Capital S.A. SPF bought a new position in Brookfield during the 3rd quarter valued at $9,828,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.
Wall Street Analyst Weigh In
BN has been the subject of several recent analyst reports. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. TD upped their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Scotia increased their price target on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Zacks Research downgraded Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Scotiabank reiterated an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.
View Our Latest Stock Report on BN
Brookfield Price Performance
Shares of NYSE BN opened at $37.48 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $91.91 billion, a price-to-earnings ratio of 68.15 and a beta of 1.56. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56. The business has a 50 day simple moving average of $38.77 and a 200-day simple moving average of $42.33.
Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. As a group, equities research analysts expect that Brookfield Corporation will post 2.88 earnings per share for the current year.
Brookfield Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s payout ratio is presently 50.91%.
About Brookfield
Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.
Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.
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