Brookfield Corporation (NYSE:BN) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in Brookfield Corporation (NYSE:BN) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 106,602 shares of the company’s stock after purchasing an additional 4,244 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Brookfield were worth $5,587,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BN. Norges Bank acquired a new stake in shares of Brookfield in the fourth quarter valued at approximately $973,591,000. Regents of The University of California acquired a new stake in shares of Brookfield in the fourth quarter valued at approximately $154,140,000. Geode Capital Management LLC increased its stake in Brookfield by 32.0% during the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after acquiring an additional 1,930,218 shares during the last quarter. Capital World Investors increased its stake in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Brookfield by 51.9% during the fourth quarter. Bessemer Group Inc. now owns 4,839,267 shares of the company’s stock worth $278,016,000 after acquiring an additional 1,652,935 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the subject of several recent analyst reports. Royal Bank Of Canada initiated coverage on Brookfield in a research note on Wednesday, June 18th. They set an “outperform” rating and a $81.00 target price for the company. CIBC cut their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research note on Friday, May 9th. TD Securities cut their target price on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Scotiabank cut their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Brookfield in a research note on Monday, May 19th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.13.

Brookfield Trading Up 2.8%

BN opened at $61.29 on Wednesday. Brookfield Corporation has a 52 week low of $40.59 and a 52 week high of $62.78. The business has a fifty day simple moving average of $56.56 and a 200-day simple moving average of $56.13. The firm has a market cap of $101.01 billion, a P/E ratio of 218.90 and a beta of 1.66. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN) last released its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. On average, equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.59%. Brookfield’s dividend payout ratio (DPR) is presently 128.57%.

Brookfield Company Profile

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.