Cloverfields Capital Group LP Takes Position in Brookfield Corporation $BN

Cloverfields Capital Group LP purchased a new stake in Brookfield Corporation (NYSE:BN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 124,362 shares of the company’s stock, valued at approximately $5,033,000. Brookfield makes up about 1.6% of Cloverfields Capital Group LP’s portfolio, making the stock its 23rd biggest position.

Several other large investors also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new stake in shares of Brookfield during the fourth quarter worth approximately $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield during the 4th quarter valued at $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield during the 4th quarter valued at $27,000. Truvestments Capital LLC increased its stake in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares during the last quarter. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of BN stock opened at $41.23 on Friday. The stock’s fifty day simple moving average is $44.19 and its 200 day simple moving average is $44.36. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The firm has a market cap of $101.06 billion, a price-to-earnings ratio of 80.84 and a beta of 1.54. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Royal Bank Of Canada decreased their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. TD lifted their target price on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Scotia raised their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Finally, National Bank Financial increased their target price on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.64.

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.