Dixon Mitchell Investment Counsel Inc. Cuts Holdings in Brookfield Corporation $BN

Dixon Mitchell Investment Counsel Inc. reduced its stake in shares of Brookfield Corporation (NYSE:BN) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,606,322 shares of the company’s stock after selling 105,133 shares during the quarter. Brookfield makes up about 3.9% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 9th biggest holding. Dixon Mitchell Investment Counsel Inc. owned about 0.06% of Brookfield worth $110,078,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth about $32,000. First Horizon Corp purchased a new position in shares of Brookfield during the third quarter valued at about $40,000. Cary Street Partners Investment Advisory LLC raised its stake in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after buying an additional 330 shares in the last quarter. Versant Capital Management Inc raised its stake in Brookfield by 507.5% in the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after buying an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Brookfield in the second quarter worth about $51,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. National Bank Financial increased their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, TD Securities increased their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.59.

Brookfield Stock Performance

Brookfield stock opened at $41.07 on Tuesday. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $100.62 billion, a P/E ratio of 83.26 and a beta of 1.58. The stock’s 50 day moving average is $46.11 and its 200 day moving average is $45.71.

Brookfield (NYSE:BN) last announced its quarterly earnings data 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. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, equities research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is presently 48.98%.

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.