Royal Bank of Canada Grows Holdings in Brookfield Corporation $BN

Royal Bank of Canada increased its position in shares of Brookfield Corporation (NYSE:BN) by 40.5% during the 4th quarter, Holdings Channel reports. The firm owned 113,652,306 shares of the company’s stock after purchasing an additional 32,760,558 shares during the quarter. Brookfield makes up approximately 0.8% of Royal Bank of Canada’s holdings, making the stock its 16th largest holding. Royal Bank of Canada’s holdings in Brookfield were worth $5,215,504,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BN. MCF Advisors LLC purchased a new position in Brookfield during the fourth quarter worth about $26,000. Quattro Advisors LLC purchased a new position in Brookfield during the fourth quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in Brookfield during the fourth quarter worth about $27,000. Truvestments Capital LLC boosted its holdings in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Finally, Hilltop National Bank boosted its holdings in Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. TD boosted their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Scotia lifted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada lowered their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield Stock Performance

Shares of BN stock opened at $45.66 on Wednesday. The firm has a market cap of $111.92 billion, a price-to-earnings ratio of 89.53 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The firm’s 50-day simple moving average is $45.11 and its two-hundred day simple moving average is $44.91.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s payout ratio is currently 54.90%.

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.