Oak Grove Capital LLC Increases Stock Position in Brookfield Corporation $BN

Oak Grove Capital LLC increased its position in Brookfield Corporation (NYSE:BN) by 12.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 268,275 shares of the company’s stock after buying an additional 30,335 shares during the period. Brookfield comprises approximately 2.6% of Oak Grove Capital LLC’s holdings, making the stock its 9th largest position. Oak Grove Capital LLC’s holdings in Brookfield were worth $18,398,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Brookfield by 1.5% in the third quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company’s stock valued at $4,155,251,000 after acquiring an additional 897,916 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after purchasing an additional 799,440 shares during the period. Akre Capital Management LLC raised its stake in Brookfield by 0.7% during the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after purchasing an additional 125,269 shares during the period. Norges Bank purchased a new position in Brookfield in the 2nd quarter worth approximately $1,040,160,000. Finally, Mackenzie Financial Corp boosted its stake in Brookfield by 1.6% in the 2nd quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock worth $1,010,616,000 after purchasing an additional 249,913 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Brookfield stock opened at $43.94 on Tuesday. The company’s 50-day moving average price is $46.55 and its 200-day moving average price is $45.74. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The company has a market cap of $107.64 billion, a PE ratio of 89.07 and a beta of 1.57. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.07 dividend. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

BN has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $52.00 price objective (up from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Royal Bank Of Canada lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Finally, National Bank Financial boosted their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. One 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.59.

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.