Brookfield Corporation $BN Shares Sold by Northwest & Ethical Investments L.P.

by · The Markets Daily

Northwest & Ethical Investments L.P. decreased its position in shares of Brookfield Corporation (NYSE:BN – Free Report) by 8.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 436,403 shares of the company’s stock after selling 42,129 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Brookfield were worth $27,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BN. Hilltop National Bank acquired a new position in Brookfield in the 2nd quarter valued at about $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $33,000. Financial Gravity Companies Inc. purchased a new stake in shares of Brookfield during the 2nd quarter valued at approximately $51,000. Brooklyn Investment Group purchased a new stake in shares of Brookfield during the 1st quarter valued at approximately $54,000. Finally, SouthState Corp lifted its holdings in Brookfield by 734.8% in the first quarter. SouthState Corp now owns 1,127 shares of the company’s stock valued at $59,000 after acquiring an additional 992 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on BN shares. National Bankshares set a $54.67 target price on Brookfield and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. TD Securities raised their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Cowen restated a “buy” rating on shares of Brookfield in a report on Friday, August 8th. CIBC reaffirmed an “outperform” rating and issued a $52.00 target price (up previously from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $53.47.

Check Out Our Latest Research Report on Brookfield

Brookfield Stock Performance

Shares of Brookfield stock opened at $46.08 on Wednesday. The stock has a market capitalization of $114.04 billion, a price-to-earnings ratio of 160.74 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. The business has a 50-day moving average of $45.51 and a 200 day moving average of $43.27. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.47.

Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. As a group, sell-side analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio is currently 66.67%.

Brookfield Profile

(Free Report)

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

See Also

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