37,085 Shares in Brookfield Corporation $BN Bought by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Brookfield Corporation (NYSE:BN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 37,085 shares of the company’s stock, valued at approximately $1,702,000.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 purchasing an additional 31,543,313 shares in the last quarter. Capital World Investors lifted its position in Brookfield by 2.4% during the third quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock worth $4,685,103,000 after buying an additional 1,624,085 shares during the period. Principal Financial Group Inc. lifted its position in Brookfield by 1.6% during the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock worth $3,487,338,000 after buying an additional 799,440 shares during the period. Akre Capital Management LLC lifted its position in Brookfield by 0.7% during the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock worth $1,188,713,000 after buying an additional 125,269 shares during the period. Finally, Cibc World Market Inc. increased its stake in Brookfield by 2.9% during the third quarter. Cibc World Market Inc. now owns 11,277,277 shares of the company’s stock worth $773,396,000 after acquiring an additional 321,998 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of NYSE BN opened at $43.15 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The business has a 50 day moving average price of $42.47 and a two-hundred day moving average price of $44.87. Brookfield Corporation has a fifty-two week low of $34.88 and a fifty-two week high of $49.56. The firm has a market cap of $105.75 billion, a PE ratio of 87.47 and a beta of 1.56.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. Sell-side analysts expect that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.07 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 annualized dividend and a yield of 0.6%. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is 57.14%.

Analysts Set New Price Targets

Several equities research analysts have commented on BN shares. National Bank Financial upped their price target on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. BMO Capital Markets increased their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Royal Bank Of Canada increased their target price on Brookfield from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Finally, Scotiabank lowered their target price on Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research note on Wednesday, March 25th. One equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.65.

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.