Sowell Financial Services LLC increased its position in shares of Brookfield Corporation (NYSE:BN – Free Report) by 50.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 184,147 shares of the company’s stock after purchasing an additional 62,138 shares during the period. Sowell Financial Services LLC’s holdings in Brookfield were worth $6,714,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in BN. Meadow Creek Wealth Advisors LLC lifted its stake in Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after purchasing an additional 234 shares during the last quarter. State of Wyoming boosted its holdings in shares of Brookfield by 6.0% in the 1st quarter. State of Wyoming now owns 5,151 shares of the company’s stock valued at $208,000 after purchasing an additional 290 shares in the last quarter. Central Pacific Bank Trust Division increased its stake in shares of Brookfield by 2.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock valued at $503,000 after purchasing an additional 300 shares during the last quarter. West Family Investments Inc. increased its stake in shares of Brookfield by 4.0% in the 2nd quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock valued at $336,000 after purchasing an additional 304 shares during the last quarter. Finally, Gould Asset Management LLC CA raised its holdings in shares of Brookfield by 3.6% during the 1st quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock worth $358,000 after buying an additional 310 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.
Brookfield Price Performance
Shares of NYSE BN opened at $39.47 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The firm’s 50-day simple moving average is $38.25 and its 200 day simple moving average is $42.63. The stock has a market cap of $96.78 billion, a price-to-earnings ratio of 71.76 and a beta of 1.56. Brookfield Corporation has a fifty-two week low of $35.61 and a fifty-two week high of $49.56.
Brookfield (NYSE:BN – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, research analysts anticipate that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is currently 50.91%.
Analyst Upgrades and Downgrades
Several research analysts have commented on BN shares. Scotia boosted their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Scotiabank reaffirmed an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $57.40.
Check Out Our Latest Analysis on Brookfield
Brookfield Profile
Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.
Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.
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