Brookfield Corporation $BN Stock: Beutel Goodman & Co Ltd. Raises Stake

Key Points

• Beutel Goodman increased its Brookfield stake by 6.3% in the third quarter, adding 386,889 shares to hold about 6.57 million shares, worth roughly $240.4 million. Other institutional investors also raised or initiated positions; institutions own 61.6% of the stock.
• Brookfield reported quarterly EPS of $0.66, beating estimates of $0.62, on revenue of $1.66 billion. It paid a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.
• Analyst sentiment is Moderate Buy, with a consensus price target of $57.40. Shares opened at $42.98, within a 52-week range of $35.61 to $49.56.

Beutel Goodman & Co Ltd. grew its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,573,596 shares of the company's stock after acquiring an additional 386,889 shares during the quarter. Brookfield comprises approximately 1.9% of Beutel Goodman & Co Ltd.'s portfolio, making the stock its 22nd biggest position. Beutel Goodman & Co Ltd. owned approximately 0.27% of Brookfield worth $240,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. M&G PLC increased its stake in Brookfield by 18.2% during the 3rd quarter. M&G PLC now owns 2,328,749 shares of the company's stock valued at $83,835,000 after purchasing an additional 358,318 shares in the last quarter. AlphaCore Capital LLC lifted its stake in shares of Brookfield by 112.9% in the third quarter. AlphaCore Capital LLC now owns 10,680 shares of the company's stock worth $390,000 after buying an additional 5,664 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of Brookfield in the third quarter worth approximately $49,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Brookfield by 5.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,921 shares of the company's stock worth $253,000 after buying an additional 378 shares in the last quarter. Finally, Hohimer Wealth Management LLC purchased a new stake in shares of Brookfield during the third quarter valued at approximately $3,694,000. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Price Performance

BN opened at $42.98 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The stock has a market capitalization of $105.42 billion, a P/E ratio of 78.15 and a beta of 1.53. The company's 50-day simple moving average is $38.22 and its two-hundred day simple moving average is $42.44. Brookfield Corporation has a 52-week low of $35.61 and a 52-week high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. As a group, analysts predict that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were given a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield's dividend payout ratio is 50.91%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. TD raised their price target on shares of Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Zacks Research lowered shares of Brookfield from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. Scotia increased their target price on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. Finally, Scotiabank reiterated an "outperform" rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. One equities research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Profile

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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