Brookfield Corporation $BN Shares Acquired by Lone Pine Capital LLC

Lone Pine Capital LLC increased its position in shares of Brookfield Corporation (NYSE:BN) by 81.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,181,348 shares of the company’s stock after purchasing an additional 4,559,963 shares during the quarter. Brookfield comprises about 5.1% of Lone Pine Capital LLC’s holdings, making the stock its 7th largest position. Lone Pine Capital LLC’s holdings in Brookfield were worth $698,237,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BN. Triasima Portfolio Management inc. increased its position in shares of Brookfield by 9.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock worth $19,825,000 after purchasing an additional 23,923 shares during the last quarter. PCJ Investment Counsel Ltd. raised its holdings in Brookfield by 110.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after buying an additional 122,040 shares during the period. Citigroup Inc. lifted its position in Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after buying an additional 221,078 shares during the last quarter. Principal Financial Group Inc. lifted its position in Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after buying an additional 799,440 shares during the last quarter. Finally, Picton Mahoney Asset Management boosted its stake in Brookfield by 15.3% during the third quarter. Picton Mahoney Asset Management now owns 2,629,023 shares of the company’s stock worth $180,351,000 after buying an additional 348,824 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Up 2.2%

Shares of NYSE BN opened at $39.21 on Tuesday. The stock has a market cap of $96.05 billion, a P/E ratio of 79.48 and a beta of 1.58. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The business’s fifty day simple moving average is $45.41 and its 200-day simple moving average is $45.57.

Brookfield (NYSE:BN) last released 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 return on equity of 3.87% and a net margin of 1.74%.The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. As a group, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. National Bank Financial upped their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating and set a $52.00 price objective (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, February 17th. Finally, Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One equities 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.59.

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.