Nykredit A S Takes $23.55 Million Position in Brookfield Corporation $BN

Nykredit A S bought a new position in Brookfield Corporation (NYSE:BN) in the second quarter, HoldingsChannel reports. The firm bought 552,075 shares of the company’s stock, valued at approximately $23,546,000.

A number of other institutional investors also recently bought and sold shares of the stock. Truvestments Capital LLC increased its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Meadow Creek Wealth Advisors LLC raised its stake in shares of Brookfield by 2.3% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock valued at $417,000 after acquiring an additional 234 shares during the period. State of Wyoming lifted its holdings in shares of Brookfield by 6.0% in the 1st quarter. State of Wyoming now owns 5,151 shares of the company’s stock worth $208,000 after acquiring an additional 290 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Brookfield by 11.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,892 shares of the company’s stock worth $198,000 after purchasing an additional 290 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $40.43 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The stock has a market cap of $99.13 billion, a price-to-earnings ratio of 73.51 and a beta of 1.53. The firm has a 50-day moving average of $42.76 and a two-hundred day moving average of $43.44. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. On average, research analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is presently 50.91%.

Analyst Ratings Changes

A number of research firms recently weighed in on BN. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Scotia raised their price target on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Finally, Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.40.

Brookfield 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.