Brookfield Corporation $BN Shares Purchased by Oak Grove Capital LLC

Key Points

• Oak Grove Capital increased its Brookfield stake by 15.1% in the third quarter, acquiring 109,600 additional shares for a total of 835,459 shares valued at approximately $30.5 million. Several other institutional investors also raised their positions, with institutions collectively owning 61.6% of Brookfield.
• Brookfield reported quarterly EPS of $0.66, exceeding the $0.62 consensus estimate, on revenue of $1.66 billion. The company also declared a quarterly dividend of $0.07, representing a 0.8% annualized yield.
• Shares opened at $37.11, near the lower end of their 52-week range, while analysts maintained a generally positive outlook: Brookfield has a consensus rating of “Moderate Buy” and an average price target of $57.40.

Oak Grove Capital LLC raised its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 15.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 835,459 shares of the company's stock after acquiring an additional 109,600 shares during the quarter. Brookfield makes up about 1.4% of Oak Grove Capital LLC's portfolio, making the stock its 14th largest holding. Oak Grove Capital LLC's holdings in Brookfield were worth $30,461,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Journey Retirement Planning & Investment Management LLC grew its stake in shares of Brookfield by 15.7% in the third quarter. Journey Retirement Planning & Investment Management LLC now owns 16,556 shares of the company's stock worth $604,000 after purchasing an additional 2,243 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Brookfield by 76.6% in the third quarter. GAMMA Investing LLC now owns 18,546 shares of the company's stock valued at $676,000 after buying an additional 8,045 shares during the period. Farther Finance Advisors LLC raised its position in shares of Brookfield by 23.6% during the third quarter. Farther Finance Advisors LLC now owns 16,466 shares of the company's stock worth $600,000 after acquiring an additional 3,139 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Brookfield by 62.0% during the third quarter. Valeo Financial Advisors LLC now owns 10,035 shares of the company's stock worth $366,000 after acquiring an additional 3,842 shares during the last quarter. Finally, Tactive Advisors LLC lifted its stake in shares of Brookfield by 6.5% in the third quarter. Tactive Advisors LLC now owns 10,466 shares of the company's stock worth $382,000 after acquiring an additional 637 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Up 0.9%

Brookfield stock opened at $37.11 on Friday. The firm has a market capitalization of $91.00 billion, a price-to-earnings ratio of 67.48 and a beta of 1.56. 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 $35.69 and a 1-year high of $49.56. The firm's fifty day moving average price is $39.98 and its two-hundred day moving average price is $42.48.

Brookfield (NYSE:BN - Get Free Report) last issued 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. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, equities research analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Brookfield Company 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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