Addenda Capital Inc. Has $99.04 Million Position in Brookfield Corporation $BN

Key Points

• Addenda Capital Inc. raised its stake in Brookfield by 55.6% in Q4 to 2,158,161 shares worth $99.04 million, making the stock its 5th-largest holding (about 0.09% of Brookfield).
• Brookfield beat quarterly EPS with $0.67 vs. $0.61 expected and reported $1.63 billion in revenue; the stock has a market cap of $103.19 billion and a PE of 85.35.
• Brookfield raised its quarterly dividend to $0.07 (annualized $0.28, ~0.7% yield), and analysts' consensus rating is Moderate Buy with a target of $54.20.

Addenda Capital Inc. raised its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 55.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,158,161 shares of the company's stock after purchasing an additional 771,512 shares during the period. Brookfield makes up approximately 3.6% of Addenda Capital Inc.'s portfolio, making the stock its 5th biggest holding. Addenda Capital Inc. owned about 0.09% of Brookfield worth $99,038,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BN. AQR Capital Management LLC boosted its stake in Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company's stock valued at $963,000 after purchasing an additional 11,069 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company's stock valued at $130,000 after purchasing an additional 295 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company's stock worth $353,000 after buying an additional 1,396 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Brookfield in the second quarter valued at approximately $10,653,000. Finally, Lombard Odier Asset Management Switzerland SA grew its holdings in shares of Brookfield by 43.9% in the second quarter. Lombard Odier Asset Management Switzerland SA now owns 56,307 shares of the company's stock valued at $3,488,000 after acquiring an additional 17,180 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Trading Up 3.3%

NYSE:BN opened at $42.11 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $103.19 billion, a PE ratio of 85.35 and a beta of 1.56. The firm's 50 day moving average is $42.93 and its 200 day moving average is $44.94. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly 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 analysts' expectations of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. Brookfield's payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research raised Brookfield from a "strong sell" rating to a "hold" rating in a report on Monday, January 19th. Royal Bank Of Canada upped their target price on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. National Bank Financial upped their target price on Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, February 17th. Finally, Scotiabank reduced their target price on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a report 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Brookfield currently has an average rating of "Moderate Buy" and a consensus target price of $54.20.

Brookfield 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.

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