115,786 Shares in Brookfield Corporation $BN Purchased by Burkett Asset Management Ltd

Burkett Asset Management Ltd bought a new position in shares of Brookfield Corporation (NYSE:BN) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 115,786 shares of the company’s stock, valued at approximately $5,324,000. Brookfield comprises approximately 5.4% of Burkett Asset Management Ltd’s portfolio, making the stock its 4th largest position.

Several other hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its stake in Brookfield by 45.0% during the 4th 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. lifted its stake in Brookfield by 52.1% during the 4th 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. increased its holdings in Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the period. TD Asset Management Inc increased its holdings in Brookfield by 46.3% during the 4th quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock worth $1,644,200,000 after purchasing an additional 11,323,960 shares during the period. Finally, Norges Bank purchased a new stake in Brookfield during the 4th quarter worth about $1,227,555,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BN shares. TD upped their price target on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. BMO Capital Markets upped their price target on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, TD Securities reissued a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Price Performance

Shares of NYSE BN opened at $44.99 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The firm has a market capitalization of $110.27 billion, a PE ratio of 88.22 and a beta of 1.53. The stock’s 50-day simple moving average is $44.83 and its 200-day simple moving average is $44.92.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is 54.90%.

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.