Brookfield Corporation $BN Shares Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners LP increased its Brookfield stake by 432.3% in the third quarter, adding 51,724 shares to reach 63,690 shares valued at about $2.32 million. Institutional investors and hedge funds collectively own 61.6% of the stock.
• Brookfield reported quarterly earnings of $0.66 per share, beating analyst estimates of $0.62; revenue was $1.66 billion, in line with expectations.
• Analysts give Brookfield a consensus “Moderate Buy” rating and an average price target of $57.40. The company’s quarterly dividend is $0.07 per share, or $0.28 annualized.

CenterBook Partners LP lifted its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 432.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,690 shares of the company's stock after acquiring an additional 51,724 shares during the period. CenterBook Partners LP's holdings in Brookfield were worth $2,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cardinal Capital Management Inc. boosted its stake in Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock worth $138,287,000 after purchasing an additional 80,738 shares during the period. Headlands Technologies LLC increased its holdings in Brookfield by 181.4% during the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company's stock worth $3,909,000 after purchasing an additional 59,166 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Brookfield by 1.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock valued at $595,676,000 after purchasing an additional 248,479 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Brookfield by 520.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company's stock valued at $2,031,000 after purchasing an additional 39,994 shares during the period. Finally, Mraz Amerine & Associates Inc. raised its stake in shares of Brookfield by 3.0% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 466,698 shares of the company's stock valued at $19,877,000 after purchasing an additional 13,401 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Up 0.1%

Shares of BN stock opened at $41.41 on Monday. The firm's fifty day moving average price is $38.19 and its two-hundred day moving average price is $42.45. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 1 year low of $35.61 and a 1 year high of $49.56. The firm has a market capitalization of $101.57 billion, a P/E ratio of 75.30 and a beta of 1.53.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. On average, equities analysts predict that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced 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. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 14th. Brookfield's dividend payout ratio is presently 50.91%.

Analysts Set New Price Targets

A number of analysts have recently commented on BN shares. Scotiabank restated an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Finally, TD boosted their target price on Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Brookfield currently has an average rating of "Moderate Buy" and a consensus target price of $57.40.

About Brookfield

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company's operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.

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