Smith Salley Wealth Management Increases Holdings in Brookfield Corporation $BN

Smith Salley Wealth Management boosted its position in shares of Brookfield Corporation (NYSE:BN) by 48.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 650,929 shares of the company’s stock after purchasing an additional 211,499 shares during the quarter. Brookfield comprises about 1.5% of Smith Salley Wealth Management’s portfolio, making the stock its 17th biggest position. Smith Salley Wealth Management’s holdings in Brookfield were worth $29,871,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Brookfield by 147.5% during the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after buying an additional 11,069 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Brookfield by 13.5% in the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after purchasing an additional 1,396 shares during the period. AXA S.A. boosted its stake in shares of Brookfield by 42.2% during the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after purchasing an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Brookfield by 29.6% during the second quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after purchasing an additional 5,821 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on BN. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Zacks Research upgraded shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.20.

Brookfield Stock Performance

BN opened at $46.60 on Monday. Brookfield Corporation has a 52-week low of $31.62 and a 52-week high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The company has a market cap of $114.20 billion, a P/E ratio of 94.45 and a beta of 1.56. The firm’s 50-day moving average price is $42.81 and its 200-day moving average price is $44.85.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. As a group, equities analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend 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 payout ratio is currently 57.14%.

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.