Entropy Technologies LP Makes New Investment in Brookfield Corporation $BN

Entropy Technologies LP acquired a new position in shares of Brookfield Corporation (NYSE:BN) during the 1st quarter, Holdings Channel reports. The fund acquired 180,092 shares of the company’s stock, valued at approximately $7,288,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. Cannell & Spears LLC increased its stake in Brookfield by 1.6% in the first quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company’s stock valued at $109,278,000 after purchasing an additional 42,859 shares during the last quarter. Cloverfields Capital Group LP acquired a new stake in Brookfield in the 1st quarter worth about $5,033,000. Bank of Nova Scotia boosted its stake in Brookfield by 11.4% in the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after buying an additional 1,575,668 shares during the last quarter. Gibbs Wealth Management grew its holdings in Brookfield by 38.2% in the 1st quarter. Gibbs Wealth Management now owns 9,625 shares of the company’s stock valued at $390,000 after buying an additional 2,659 shares during the period. Finally, Sei Investments Co. grew its holdings in Brookfield by 131.8% in the 1st quarter. Sei Investments Co. now owns 315,082 shares of the company’s stock valued at $12,751,000 after buying an additional 179,149 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $41.69 on Friday. The business’s 50-day simple moving average is $44.12 and its 200-day simple moving average is $44.34. The firm has a market capitalization of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Scotia boosted their target price on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. National Bank Financial upped their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. Finally, Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.64.

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.