Live Oak Private Wealth LLC decreased its position in Brookfield Corporation (NYSE:BN – Free Report) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 300,061 shares of the company’s stock after selling 20,657 shares during the quarter. Brookfield makes up 1.7% of Live Oak Private Wealth LLC’s investment portfolio, making the stock its 16th largest position. Live Oak Private Wealth LLC’s holdings in Brookfield were worth $12,780,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of BN. Truvestments Capital LLC grew its stake in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Meadow Creek Wealth Advisors LLC grew its position in shares of Brookfield by 2.3% in the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after buying an additional 234 shares during the last quarter. State of Wyoming increased its stake in shares of Brookfield by 6.0% during the first quarter. State of Wyoming now owns 5,151 shares of the company’s stock valued at $208,000 after buying an additional 290 shares during the period. Parallel Advisors LLC raised its holdings in shares of Brookfield by 11.1% during the third quarter. Parallel Advisors LLC now owns 2,892 shares of the company’s stock valued at $198,000 after acquiring an additional 290 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after acquiring an additional 295 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on BN shares. Royal Bank Of Canada reduced their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Scotiabank reiterated an “outperform” rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Scotia raised their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $57.40.
Brookfield Trading Down 3.7%
NYSE BN opened at $39.68 on Wednesday. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The stock has a market cap of $97.29 billion, a P/E ratio of 72.15 and a beta of 1.53. The stock’s fifty day moving average price is $42.87 and its 200-day moving average price is $43.55. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.
Brookfield (NYSE:BN – Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities analysts forecast that Brookfield Corporation will post 2.93 EPS for the current fiscal year.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s payout ratio is 50.91%.
Brookfield Company Profile
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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