Brookfield Corporation $BN Shares Bought by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. boosted its Brookfield stake by 110.2% in Q3, acquiring 122,040 shares for a total 232,780 shares worth about $15.97 million and making BN its third-largest holding (4.4% of assets).
• Multiple institutions also increased positions (e.g., Citigroup +49.5%, Principal Financial now holds ~50.85M shares), and institutional ownership of Brookfield stands at 61.6%.
• Analysts have a “Moderate Buy” consensus with a $54.59 target; Brookfield recently beat EPS estimates, raised its quarterly dividend to $0.07 (annualized $0.28, yield 0.7%), and trades around $41.63 with a market cap near $102B.

PCJ Investment Counsel Ltd. increased its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 110.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,780 shares of the company's stock after acquiring an additional 122,040 shares during the period. Brookfield comprises 4.4% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 3rd largest holding. PCJ Investment Counsel Ltd.'s holdings in Brookfield were worth $15,966,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Triasima Portfolio Management inc. raised its stake in Brookfield by 9.0% during the third quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company's stock worth $19,825,000 after acquiring an additional 23,923 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company's stock valued at $45,817,000 after purchasing an additional 221,078 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock valued at $3,487,338,000 after purchasing an additional 799,440 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in Brookfield by 777.8% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company's stock worth $3,139,000 after purchasing an additional 40,562 shares in the last quarter. Finally, Eldred Rock Partners LLC lifted its stake in Brookfield by 12.0% in the 3rd quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company's stock valued at $21,744,000 after purchasing an additional 34,008 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BN. Zacks Research raised shares of Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Morgan Stanley reissued an "overweight" rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. National Bank Financial upped their target price on Brookfield from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Finally, BMO Capital Markets lifted their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.59.

Brookfield Trading Up 1.3%

Shares of BN stock opened at $41.63 on Wednesday. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. The stock has a market cap of $101.99 billion, a price-to-earnings ratio of 84.39 and a beta of 1.58. The stock has a 50-day moving average of $46.01 and a 200-day moving average of $45.69.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.07 dividend. This is an increase from Brookfield's previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's dividend payout ratio is presently 48.98%.

Brookfield Company 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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