Havemeyer Place LP bought a new stake in Brookfield Corporation (NYSE:BN – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 26,609 shares of the company’s stock, valued at approximately $1,221,000.
Other large investors also recently modified their holdings of the company. MCF Advisors LLC bought a new position in shares of Brookfield in the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the fourth quarter valued at approximately $27,000. Hilltop National Bank lifted 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 in the last quarter. New England Capital Financial Advisors LLC lifted its holdings in shares of Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after purchasing an additional 251 shares in the last quarter. Finally, Entrust Financial LLC bought a new position in shares of Brookfield in the fourth quarter valued at approximately $35,000. Institutional investors own 61.60% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on BN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. National Bank Financial increased their price target on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. TD increased their price target on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Scotia increased their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.82.
Brookfield Stock Performance
Shares of BN opened at $44.60 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $109.30 billion, a price-to-earnings ratio of 87.45 and a beta of 1.53. The stock has a 50 day moving average of $44.40 and a 200 day moving average of $44.89. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s payout ratio is presently 54.90%.
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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