Brookfield Corporation $BN Holdings Decreased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Brookfield Corporation (NYSE:BN) by 20.9% during the third quarter, Holdings Channel reports. The firm owned 89,449 shares of the company’s stock after selling 23,670 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brookfield were worth $6,056,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Eldred Rock Partners LLC lifted its holdings in shares of Brookfield by 12.0% in the third quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company’s stock valued at $21,744,000 after buying an additional 34,008 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Brookfield by 777.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company’s stock worth $3,139,000 after purchasing an additional 40,562 shares in the last quarter. Creative Planning lifted its stake in Brookfield by 10.1% during the second quarter. Creative Planning now owns 487,077 shares of the company’s stock valued at $30,126,000 after purchasing an additional 44,822 shares during the last quarter. AGF Management Ltd. lifted its stake in Brookfield by 7.2% during the second quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock valued at $151,399,000 after purchasing an additional 164,124 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new stake in Brookfield during the second quarter worth approximately $347,683,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BN. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. TD Securities upped their price target on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $49.00 target price (up from $46.00) on shares of Brookfield in a research note on Wednesday, December 17th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Wall Street Zen lowered shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.87.

Brookfield Trading Up 1.2%

BN opened at $47.17 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $116.82 billion, a PE ratio of 131.01 and a beta of 1.58. The firm has a 50-day moving average price of $46.28 and a two-hundred day moving average price of $45.36. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, equities analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is 66.67%.

Brookfield Company 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.