Dixon Mitchell Investment Counsel Inc. Has $110.08 Million Holdings in Brookfield Corporation $BN

Dixon Mitchell Investment Counsel Inc. cut its position in Brookfield Corporation (NYSE:BN) by 6.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,606,322 shares of the company’s stock after selling 105,133 shares during the period. Brookfield makes up about 3.9% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 9th largest holding. Dixon Mitchell Investment Counsel Inc.’s holdings in Brookfield were worth $110,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors bought a new stake in shares of Brookfield during the third quarter valued at approximately $99,678,000. Capital World Investors lifted its position in Brookfield by 2.4% in the 3rd quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock valued at $4,685,103,000 after acquiring an additional 1,624,085 shares in the last quarter. Capital International Sarl boosted its stake in Brookfield by 4.4% during the 3rd quarter. Capital International Sarl now owns 257,374 shares of the company’s stock valued at $17,651,000 after purchasing an additional 10,803 shares during the last quarter. Capital International Inc. CA increased its holdings in shares of Brookfield by 109.8% in the 3rd quarter. Capital International Inc. CA now owns 139,208 shares of the company’s stock worth $9,547,000 after purchasing an additional 72,868 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Brookfield by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 7,359,626 shares of the company’s stock worth $505,074,000 after purchasing an additional 310,864 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $41.07 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. The firm’s 50 day simple moving average is $46.11 and its two-hundred day simple moving average is $45.71. The company has a market capitalization of $100.62 billion, a P/E ratio of 83.26 and a beta of 1.58. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is currently 48.98%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BN shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. National Bank Financial boosted their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $52.00 price target (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Scotiabank reiterated an “outperform” rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. Finally, Zacks Research upgraded shares of Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.59.

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.