Ancora Advisors LLC Makes New Investment in Brookfield Corporation $BN

Key Points

• Ancora Advisors LLC purchased 64,787 Brookfield shares during the second quarter, establishing a new position valued at approximately $2.76 million. Institutional investors and hedge funds collectively own 61.6% of Brookfield’s stock.
• Analysts remain broadly bullish, with Brookfield receiving a consensus “Buy” rating and an average price target of $56.91; recent targets range from $54 to $62.
• Brookfield reported quarterly EPS of $0.66, exceeding the $0.62 consensus estimate, and declared a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.

Ancora Advisors LLC purchased a new stake in shares of Brookfield Corporation (NYSE:BN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 64,787 shares of the company's stock, valued at approximately $2,759,000.

A number of other hedge funds have also modified their holdings of the company. MCF Advisors LLC acquired a new position in shares of Brookfield in the 4th quarter valued at about $26,000. Quattro Advisors LLC acquired a new stake in shares of Brookfield during the 4th quarter worth approximately $26,000. Truvestments Capital LLC grew its stake in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the period. New England Capital Financial Advisors LLC lifted its stake in shares of Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock valued at $34,000 after purchasing an additional 251 shares during the period. Finally, Entrust Financial LLC purchased a new stake in Brookfield during the fourth quarter worth $35,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BN has been the topic of a number of recent analyst reports. TD increased their price target on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. TD Securities restated a "buy" rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. JPMorgan Chase & Co. upped their target price on Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Scotiabank reiterated an "outperform" rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Brookfield has a consensus rating of "Buy" and a consensus target price of $56.91.

Brookfield Stock Performance

Shares of NYSE:BN opened at $41.72 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The business's 50 day moving average price is $43.14 and its 200-day moving average price is $43.71. The firm has a market capitalization of $102.29 billion, a PE ratio of 75.85 and a beta of 1.54. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities research analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield's payout ratio is presently 50.91%.

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.

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