Brookfield Corporation $BN Shares Acquired by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Brookfield stake by 3.6% in the third quarter, adding 495,666 shares to own 14.4 million shares valued at approximately $522.7 million. Institutional investors collectively own 61.6% of Brookfield.
• Brookfield shares recently traded at $36.58, near their 52-week low of $35.61 and below their 50- and 200-day moving averages. The company has a market capitalization of $89.7 billion and pays an annualized dividend of $0.28 per share, yielding 0.8%.
• Brookfield reported quarterly EPS of $0.66, exceeding analyst expectations of $0.62, while revenue reached $1.66 billion. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $57.40.

TD Waterhouse Canada Inc. lifted its position in Brookfield Corporation (NYSE:BN - Free Report) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,398,936 shares of the company's stock after purchasing an additional 495,666 shares during the quarter. Brookfield comprises 1.4% of TD Waterhouse Canada Inc.'s holdings, making the stock its 19th largest position. TD Waterhouse Canada Inc. owned approximately 0.59% of Brookfield worth $522,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BN. Fortitude Family Office LLC acquired a new position in Brookfield in the 3rd quarter worth approximately $26,000. Silicon Valley Capital Partners acquired a new stake in Brookfield during the 2nd quarter valued at approximately $32,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Brookfield by 203.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company's stock valued at $50,000 after acquiring an additional 824 shares during the period. Virginia Estate & Retirement Planning Advisors Inc. acquired a new stake in Brookfield during the 3rd quarter valued at approximately $46,000. Finally, First Horizon Corp boosted its holdings in shares of Brookfield by 71.0% in the 1st quarter. First Horizon Corp now owns 1,553 shares of the company's stock valued at $63,000 after acquiring an additional 645 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Performance

NYSE:BN traded down $0.23 during trading hours on Friday, reaching $36.58. The company had a trading volume of 4,873,630 shares, compared to its average volume of 5,553,397. Brookfield Corporation has a 1-year low of $35.61 and a 1-year high of $49.56. The firm has a market cap of $89.70 billion, a PE ratio of 66.51 and a beta of 1.56. The business's 50 day moving average price is $39.22 and its 200-day moving average price is $42.38. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Research analysts forecast that Brookfield Corporation will post 2.93 EPS for the current year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Brookfield's dividend payout ratio is 50.91%.

Analyst Upgrades and Downgrades

BN has been the topic of a number of research reports. Scotiabank reiterated an "outperform" rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. Scotia upped their price target on shares of Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a report on Friday, August 14th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $57.40.

Brookfield Profile

Brookfield Corporation NYSE: BN is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield's businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.

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