Oak Grove Capital LLC Acquires 109,600 Shares of Brookfield Corporation $BN

Oak Grove Capital LLC grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 15.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 835,459 shares of the company’s stock after purchasing an additional 109,600 shares during the quarter. Brookfield makes up 1.4% of Oak Grove Capital LLC’s investment portfolio, making the stock its 14th largest holding. Oak Grove Capital LLC’s holdings in Brookfield were worth $30,461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meadow Creek Wealth Advisors LLC increased its holdings in Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock worth $417,000 after buying an additional 234 shares during the last quarter. State of Wyoming raised 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 purchasing an additional 290 shares during the period. Central Pacific Bank Trust Division lifted its stake in Brookfield by 2.6% in the second quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock valued at $503,000 after purchasing an additional 300 shares during the last quarter. West Family Investments Inc. grew its holdings in Brookfield by 4.0% during the second quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock valued at $336,000 after purchasing an additional 304 shares during the period. Finally, Gould Asset Management LLC CA increased its position in Brookfield by 3.6% in the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock worth $358,000 after buying an additional 310 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 0.9%

Shares of NYSE BN opened at $37.11 on Friday. The stock has a market capitalization of $91.00 billion, a P/E ratio of 67.48 and a beta of 1.56. Brookfield Corporation has a one year low of $35.69 and a one year high of $49.56. The firm’s 50 day simple moving average is $39.98 and its two-hundred day simple moving average is $42.48. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, analysts expect that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is 50.91%.

Analyst Ratings Changes

A number of research analysts have recently commented on BN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. Scotia increased their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. TD raised their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Finally, Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. One research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.