Walleye Partners LLC Acquires Shares of 138,996 Brookfield Corporation $BN

Walleye Partners LLC bought a new position in shares of Brookfield Corporation (NYSE:BN) during the 4th quarter, HoldingsChannel reports. The fund bought 138,996 shares of the company’s stock, valued at approximately $6,379,000. Brookfield accounts for about 7.1% of Walleye Partners LLC’s investment portfolio, making the stock its 4th biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in BN. Exchange Traded Concepts LLC purchased a new stake in Brookfield in the 4th quarter valued at $27,000. Hilltop National Bank grew its holdings in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. First Horizon Corp acquired a new stake in Brookfield during the third quarter worth about $40,000. Versant Capital Management Inc raised its stake in Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after purchasing an additional 543 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in Brookfield by 49.8% in the 4th quarter. HHM Wealth Advisors LLC now owns 983 shares of the company’s stock valued at $45,000 after purchasing an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BN. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Scotiabank decreased their target price on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating on the stock in a research report on Wednesday, March 25th. Finally, Royal Bank Of Canada increased their target price on shares of Brookfield from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.65.

Brookfield Stock Down 0.5%

Shares of NYSE:BN opened at $46.43 on Wednesday. The firm has a market capitalization of $113.79 billion, a PE ratio of 94.12 and a beta of 1.56. Brookfield Corporation has a 1 year low of $32.57 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The firm’s 50-day moving average is $42.78 and its two-hundred day moving average is $44.86.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Analysts predict that Brookfield Corporation will post 2.96 EPS for the current year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, March 17th. Brookfield’s payout ratio is presently 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.