Twin Tree Management LP Sells 15,342 Shares of Brookfield Corporation $BN

Twin Tree Management LP reduced its position in shares of Brookfield Corporation (NYSE:BN) by 72.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,758 shares of the company’s stock after selling 15,342 shares during the quarter. Twin Tree Management LP’s holdings in Brookfield were worth $264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors raised its position in Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares in the last quarter. Vanguard Group Inc. raised its position in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. Principal Financial Group Inc. raised its position in Brookfield by 27.9% during the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Brookfield by 46.3% in the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock valued at $1,644,200,000 after purchasing an additional 11,323,960 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Brookfield in the fourth quarter valued at $1,227,555,000. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

NYSE:BN opened at $45.50 on Wednesday. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The company has a market cap of $111.51 billion, a P/E ratio of 89.22 and a beta of 1.53. The firm’s fifty day moving average price is $44.62 and its two-hundred day moving average price is $44.91. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

BN has been the topic of several research reports. TD Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. Scotiabank reiterated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Scotia upped their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

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.