Brookfield Corporation (NYSE:BN – Get Free Report) saw some unusual options trading activity on Wednesday. Traders bought 5,155 put options on the company. This is an increase of approximately 234% compared to the typical volume of 1,545 put options.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on BN. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. TD boosted their price objective 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. Morgan Stanley set a $59.00 price objective on Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Scotiabank reiterated an “outperform” rating and issued a $54.00 target price (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.40.
Check Out Our Latest Research Report on BN
Brookfield Stock Up 0.8%
Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. On average, equities research analysts anticipate that Brookfield will post 2.93 EPS for the current fiscal year.
Brookfield Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be given a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is presently 50.91%.
Institutional Investors Weigh In On Brookfield
Several hedge funds have recently modified their holdings of BN. MCF Advisors LLC purchased a new position in Brookfield in the 4th quarter worth approximately $26,000. Entrust Financial LLC acquired a new position in shares of Brookfield during the fourth quarter worth $35,000. Delta Asset Management LLC TN boosted its stake in shares of Brookfield by 49.8% in the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company’s stock valued at $43,000 after purchasing an additional 311 shares during the period. Commonwealth Retirement Investments LLC purchased a new position in shares of Brookfield in the fourth quarter valued at $44,000. Finally, Seneschal Advisors LLC increased its stake in Brookfield by 49.9% during the 4th quarter. Seneschal Advisors LLC now owns 1,012 shares of the company’s stock worth $46,000 after buying an additional 337 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.
About Brookfield
Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.
Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.
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