Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Takes $1.20 Million Position in Brookfield Corporation $BN

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Brookfield Corporation (NYSE:BN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 17,535 shares of the company’s stock, valued at approximately $1,203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BN. Eldred Rock Partners LLC raised its holdings in shares of Brookfield by 12.0% during the 3rd quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company’s stock valued at $21,744,000 after buying an additional 34,008 shares during the period. Creative Planning boosted its stake in shares of Brookfield by 10.1% in the second quarter. Creative Planning now owns 487,077 shares of the company’s stock valued at $30,126,000 after purchasing an additional 44,822 shares during the period. AGF Management Ltd. grew its holdings in Brookfield by 7.2% during the 2nd quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock valued at $151,399,000 after purchasing an additional 164,124 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in Brookfield during the 2nd quarter valued at $347,683,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its stake in Brookfield by 2.7% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,592,795 shares of the company’s stock worth $98,643,000 after buying an additional 42,520 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $58.00 price objective (up from $57.00) on shares of Brookfield in a research report on Monday, December 15th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. TD Securities boosted their price objective on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised their price target on Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.87.

Brookfield Stock Up 0.5%

Shares of BN stock opened at $47.88 on Tuesday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The business’s fifty day moving average is $46.03 and its 200-day moving average is $45.04. The stock has a market cap of $118.58 billion, a PE ratio of 132.99 and a beta of 1.58.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is 66.67%.

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.