Bingham Private Wealth LLC Makes New Investment in Brookfield Corporation $BN

Key Points

• Bingham Private Wealth LLC bought a new position of 36,317 shares (~$1.67 million) of Brookfield Corporation in Q4, making the stock 1.4% of its portfolio and its 16th-largest holding.
• Institutional investors now own about 61.6% of Brookfield, with several firms (AQR, AXA, Squarepoint, etc.) increasing their stakes in recent quarters, indicating rising institutional interest.
• Brookfield beat Q4 EPS estimates ($0.67 vs. $0.61), raised its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield), and carries a consensus analyst rating of Moderate Buy with an average target of $54.20.

Bingham Private Wealth LLC bought a new position in shares of Brookfield Corporation (NYSE:BN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 36,317 shares of the company's stock, valued at approximately $1,667,000. Brookfield accounts for 1.4% of Bingham Private Wealth LLC's portfolio, making the stock its 16th largest holding.

A number of other institutional investors have also recently bought and sold shares of BN. AQR Capital Management LLC grew its holdings in Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company's stock worth $963,000 after acquiring an additional 11,069 shares during the period. NewEdge Advisors LLC grew its holdings in Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company's stock worth $130,000 after acquiring an additional 295 shares during the period. Sivia Capital Partners LLC grew its holdings in Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company's stock worth $353,000 after acquiring an additional 1,396 shares during the period. AXA S.A. grew its holdings in Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company's stock worth $6,403,000 after acquiring an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company's stock worth $1,577,000 after acquiring an additional 5,821 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Price Performance

Shares of NYSE BN opened at $45.55 on Wednesday. The firm has a market cap of $111.63 billion, a PE ratio of 92.33 and a beta of 1.56. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. Brookfield Corporation has a 1-year low of $31.62 and a 1-year high of $49.56. The company has a fifty day moving average price of $42.74 and a 200 day moving average price of $44.84.

Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a boost from Brookfield's previous quarterly dividend of $0.06. Brookfield's dividend payout ratio (DPR) is currently 57.14%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen raised shares of Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. BMO Capital Markets lifted their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock 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. Morgan Stanley reissued an "overweight" rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, February 17th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Brookfield presently has a consensus rating of "Moderate Buy" and an average 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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