Brookfield Corporation $BN Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its stake in shares of Brookfield Corporation (NYSE:BN) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,379,875 shares of the company’s stock after selling 51,397 shares during the period. Brookfield makes up about 4.6% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 6th biggest position. Mufg Securities Canada LTD.’s holdings in Brookfield were worth $163,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BN. Twin Peaks Wealth Advisors LLC bought a new position in Brookfield in the 2nd quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC lifted its position in Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp bought a new position in shares of Brookfield in the 3rd quarter valued at about $40,000. Versant Capital Management Inc grew its position in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after buying an additional 543 shares during the period. Finally, Financial Gravity Companies Inc. bought a new stake in shares of Brookfield during the second quarter worth approximately $51,000. 61.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BN has been the topic of a number of recent research reports. National Bank Financial raised their price objective on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. BMO Capital Markets increased their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Scotiabank reaffirmed an “outperform” rating and set a $52.00 price objective (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $52.00 price objective (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Trading Down 3.6%

NYSE:BN opened at $43.82 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. The business’s 50-day simple moving average is $46.59 and its 200-day simple moving average is $45.73. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.56. The stock has a market capitalization of $107.35 billion, a PE ratio of 88.82 and a beta of 1.57.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 48.98%.

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.