Brookfield Corporation $BN Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC grew its holdings in Brookfield Corporation (NYSE:BN) by 51.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 155,734 shares of the company’s stock after buying an additional 52,625 shares during the period. HB Wealth Management LLC’s holdings in Brookfield were worth $7,147,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BN. Lone Pine Capital LLC lifted its stake in Brookfield by 81.1% during the 3rd quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company’s stock worth $698,237,000 after acquiring an additional 4,559,963 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Brookfield during the 3rd quarter worth about $171,104,000. TD Waterhouse Canada Inc. lifted its stake in Brookfield by 58.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,078,402 shares of the company’s stock worth $278,616,000 after acquiring an additional 2,230,353 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Brookfield by 45.4% during the 4th quarter. Baillie Gifford & Co. now owns 7,013,657 shares of the company’s stock worth $321,857,000 after acquiring an additional 2,191,270 shares in the last quarter. Finally, James Hambro & Partners LLP acquired a new position in Brookfield during the 4th quarter worth about $91,118,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the topic of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Scotiabank decreased their target price on Brookfield from $52.00 to $48.50 and set a “sector outperform” rating on the stock in a research note on Wednesday, March 25th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Royal Bank Of Canada increased their target price on Brookfield from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.65.

Brookfield Price Performance

BN stock opened at $45.40 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The firm has a market capitalization of $111.27 billion, a P/E ratio of 92.03 and a beta of 1.56. The business’s 50-day moving average is $42.73 and its two-hundred day moving average is $44.87. Brookfield Corporation has a 1 year low of $34.14 and a 1 year high of $49.56.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. Analysts anticipate that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 17th. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio (DPR) is currently 57.14%.

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.