Cannell & Spears LLC Lowers Stake in Brookfield Corporation $BN

Cannell & Spears LLC lessened its holdings in Brookfield Corporation (NYSE:BN) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,803,463 shares of the company’s stock after selling 61,826 shares during the period. Brookfield makes up 2.3% of Cannell & Spears LLC’s portfolio, making the stock its 7th biggest position. Cannell & Spears LLC owned about 0.07% of Brookfield worth $123,681,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BN. SG Americas Securities LLC raised its holdings in shares of Brookfield by 4.1% in the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after buying an additional 172 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in Brookfield by 7.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock valued at $183,000 after buying an additional 197 shares in the last quarter. Savant Capital LLC boosted its stake in Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after buying an additional 226 shares in the last quarter. Advisors Capital Management LLC grew its position in Brookfield by 3.2% in the second quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock valued at $460,000 after acquiring an additional 230 shares during the period. Finally, State of Wyoming grew its position in Brookfield by 7.8% in the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock valued at $227,000 after acquiring an additional 240 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 1.0%

Shares of NYSE:BN opened at $38.38 on Friday. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56. The company’s 50-day moving average price is $45.60 and its two-hundred day moving average price is $45.59. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The firm has a market cap of $94.01 billion, a P/E ratio of 77.79 and a beta of 1.58.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. As a group, research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have issued reports on BN shares. National Bank Financial lifted their price objective on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating and issued a $52.00 target price (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $54.59.

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.