Formuepleje A S Acquires New Position in Brookfield Corporation $BN

Formuepleje A S purchased a new stake in Brookfield Corporation (NYSE:BN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,248 shares of the company’s stock, valued at approximately $738,000.

A number of other hedge funds also recently made changes to their positions in BN. Royal Bank of Canada boosted its holdings in shares of Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after acquiring an additional 32,760,558 shares in the last quarter. First Manhattan CO. LLC. boosted its stake in shares of Brookfield by 47.5% in the 4th quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock valued at $1,093,985,000 after purchasing an additional 7,662,565 shares during the last quarter. Bank of Nova Scotia increased its holdings in Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after purchasing an additional 1,575,668 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after acquiring an additional 248,479 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Brookfield by 40.1% in the 4th quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock valued at $224,571,000 after buying an additional 1,399,216 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on BN. TD boosted their price target on 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 target on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotia increased their price target on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. Finally, BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Trading Up 1.0%

BN traded up $0.34 during trading on Thursday, reaching $36.30. 4,104,071 shares of the stock traded hands, compared to its average volume of 5,098,388. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $89.00 billion, a PE ratio of 65.99 and a beta of 1.56. The stock’s 50-day moving average is $39.52 and its 200 day moving average is $42.44. Brookfield Corporation has a 12 month low of $35.61 and a 12 month high of $49.56.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share 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%. Equities analysts anticipate that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield’s dividend payout ratio (DPR) is 50.91%.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.