Brookfield Corporation $BN Stake Increased by Obermeyer Wealth Partners

Key Points

• Obermeyer Wealth Partners increased its stake in Brookfield by 49.2% in Q4 to 646,169 shares (worth $29.65 million), representing about 1.4% of the fund's portfolio and its 24th largest holding.
• Other institutions also added stock—most notably Lone Pine Capital (up 81.1% to 10.18 million shares, ~$698.2M)—and institutional investors now own about 61.6% of Brookfield's shares.
• Wall Street consensus is a “Moderate Buy” with an average price target of $55.65, and Brookfield recently raised its quarterly dividend to $0.07 (annualized $0.28), a 0.6% yield.

Obermeyer Wealth Partners increased its stake in Brookfield Corporation (NYSE:BN - Free Report) by 49.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 646,169 shares of the company's stock after buying an additional 213,008 shares during the period. Brookfield comprises about 1.4% of Obermeyer Wealth Partners' investment portfolio, making the stock its 24th largest position. Obermeyer Wealth Partners' holdings in Brookfield were worth $29,653,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lone Pine Capital LLC increased its stake in Brookfield by 81.1% during the third quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company's stock valued at $698,237,000 after purchasing an additional 4,559,963 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Brookfield during the third quarter valued at $171,104,000. TD Waterhouse Canada Inc. increased its stake in Brookfield by 58.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,078,402 shares of the company's stock valued at $278,616,000 after purchasing an additional 2,230,353 shares during the last quarter. Baillie Gifford & Co. increased its stake in Brookfield by 45.4% during the fourth quarter. Baillie Gifford & Co. now owns 7,013,657 shares of the company's stock valued at $321,857,000 after purchasing an additional 2,191,270 shares during the last quarter. Finally, James Hambro & Partners LLP bought a new stake in Brookfield during the fourth quarter valued at $91,118,000. Institutional investors own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BN shares. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. National Bank Financial boosted their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Scotiabank lowered their target price on shares of Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a research note on Wednesday, March 25th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research note on Friday, March 27th. Finally, Zacks Research upgraded shares of Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.65.

Brookfield Stock Up 0.4%

Brookfield stock opened at $45.54 on Friday. The company has a 50-day simple moving average of $42.68 and a 200-day simple moving average of $44.88. The firm has a market capitalization of $111.62 billion, a P/E ratio of 92.32 and a beta of 1.56. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. Brookfield Corporation has a one year low of $34.88 and a one year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The business 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%. As a group, equities analysts expect that Brookfield Corporation will post 2.95 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. This is an increase from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 17th. Brookfield's payout ratio is currently 57.14%.

About Brookfield

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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