Baskin Financial Services Inc. lowered its stake in Brookfield Corporation (NYSE:BN - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,707 shares of the company's stock after selling 8,723 shares during the quarter. Brookfield accounts for approximately 3.9% of Baskin Financial Services Inc.'s portfolio, making the stock its 9th largest position. Baskin Financial Services Inc. owned approximately 0.06% of Brookfield worth $48,074,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of BN. Strategic Wealth Partners Ltd. increased its holdings in shares of Brookfield by 1.7% during the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock valued at $618,000 after acquiring an additional 170 shares in the last quarter. Haverford Trust Co grew its position in Brookfield by 4.7% in the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company's stock valued at $247,000 after purchasing an additional 192 shares during the period. Orion Portfolio Solutions LLC increased its stake in Brookfield by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock valued at $955,000 after purchasing an additional 197 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock valued at $250,000 after purchasing an additional 240 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Brookfield by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,873 shares of the company's stock worth $567,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on BN. CIBC decreased their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Scotiabank decreased their price objective on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. Royal Bank Of Canada initiated coverage on Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.13.
Read Our Latest Stock Analysis on Brookfield
Brookfield Stock Performance
Brookfield stock traded up $1.72 during mid-day trading on Friday, reaching $64.35. 1,725,633 shares of the company's stock were exchanged, compared to its average volume of 2,447,751. The business's fifty day simple moving average is $58.23 and its 200 day simple moving average is $56.28. 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 one year low of $42.21 and a one year high of $64.30. The firm has a market capitalization of $106.05 billion, a PE ratio of 229.82 and a beta of 1.66.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. On average, sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.
Brookfield Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield's dividend payout ratio (DPR) is presently 128.57%.
Brookfield Company Profile
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Free Report)
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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