Formuepleje A S Acquires New Shares in Brookfield Corporation $BN

Formuepleje A S purchased a new stake in Brookfield Corporation (NYSE:BN) in the 3rd quarter, HoldingsChannel reports. The fund purchased 20,248 shares of the company’s stock, valued at approximately $738,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in shares of Brookfield in the third quarter worth approximately $26,000. Silicon Valley Capital Partners bought a new stake in shares of Brookfield in the 2nd quarter worth $32,000. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after purchasing an additional 824 shares in the last quarter. Virginia Estate & Retirement Planning Advisors Inc. bought a new stake in Brookfield in the 3rd quarter worth about $46,000. Finally, First Horizon Corp boosted its stake in shares of Brookfield by 71.0% in the 1st quarter. First Horizon Corp now owns 1,553 shares of the company’s stock worth $63,000 after buying an additional 645 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 1.0%

BN traded up $0.34 during trading on Thursday, hitting $36.30. 4,104,071 shares of the stock traded hands, compared to its average volume of 5,098,388. The firm has a market capitalization of $89.00 billion, a P/E ratio of 65.99 and a beta of 1.56. Brookfield Corporation has a 12-month low of $35.61 and a 12-month high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The firm has a 50-day moving average of $39.52 and a 200 day moving average of $42.44.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Equities research analysts anticipate that Brookfield Corporation will post 2.93 EPS for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is currently 50.91%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Scotia boosted their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. Finally, TD boosted their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.