Whitebox Advisors LLC Invests $3.90 Million in Brookfield Corporation $BN

Whitebox Advisors LLC bought a new stake in shares of Brookfield Corporation (NYSE:BN) during the 1st quarter, Holdings Channel.com reports. The firm bought 96,265 shares of the company’s stock, valued at approximately $3,896,000.

Other large investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in shares of Brookfield during the fourth quarter worth about $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Exchange Traded Concepts LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $27,000. Truvestments Capital LLC raised its holdings in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC lifted its position in Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

BN stock opened at $41.69 on Monday. The stock’s 50 day moving average is $44.12 and its two-hundred day moving average is $44.31. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a market capitalization of $102.18 billion, a PE ratio of 81.74 and a beta of 1.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s payout ratio is 54.90%.

Analyst Ratings Changes

Several brokerages have issued reports on BN. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. National Bank Financial boosted their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. TD Securities restated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research note on Tuesday, May 19th. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Finally, TD boosted their price objective on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.64.

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.