Baillie Gifford & Co. Raises Position in Brookfield Corporation (NYSE:BN)

Key Points

• Baillie Gifford & Co. increased its position in Brookfield Corporation by 31.0% in the first quarter, acquiring an additional 1,140,558 shares to total 4,816,082 shares valued at approximately $252 million.
• Several analysts have issued ratings for Brookfield, with a consensus rating of "Moderate Buy" and a target price of $66.13, showing mixed opinions with some firms lowering their price targets.
• Brookfield declared a quarterly dividend of $0.09 per share, representing an annualized dividend of $0.36 and a dividend yield of 0.53%, despite a high payout ratio of 128.57%.

Baillie Gifford & Co. grew its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 31.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,816,082 shares of the company's stock after purchasing an additional 1,140,558 shares during the quarter. Baillie Gifford & Co. owned about 0.29% of Brookfield worth $252,411,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Brookfield in the 1st quarter worth approximately $26,000. North Capital Inc. purchased a new stake in shares of Brookfield during the 1st quarter valued at approximately $27,000. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield during the 1st quarter valued at approximately $28,000. CoreCap Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at approximately $29,000. Finally, Golden State Wealth Management LLC raised its position in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after buying an additional 296 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on BN shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Royal Bank Of Canada started coverage on shares of Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target on the stock. CIBC reduced their price target on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered shares of Brookfield from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Scotiabank dropped their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Stock Down 0.5%

Shares of NYSE BN opened at $67.46 on Friday. The firm has a market cap of $111.22 billion, a price-to-earnings ratio of 240.91 and a beta of 1.66. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a 52-week low of $42.21 and a 52-week high of $68.75. The business's 50 day moving average is $60.95 and its two-hundred day moving average is $57.09.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.53%. Brookfield's dividend payout ratio (DPR) is 128.57%.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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