Brookfield Corporation $BN Stock Bought by Sowell Financial Services LLC

Key Points

• Sowell Financial Services increased its Brookfield stake by 50.9% in the third quarter, adding 62,138 shares to own 184,147 shares valued at approximately $6.7 million. Institutional investors and hedge funds collectively own 61.6% of Brookfield.
• Brookfield shares opened at $39.47, with a market capitalization of $96.78 billion and a 52-week range of $35.61 to $49.56. The company recently beat quarterly earnings expectations, reporting $0.66 in EPS versus the $0.62 consensus estimate.
• Analysts maintain a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $57.40. Brookfield also pays a quarterly dividend of $0.07 per share, representing a 0.7% yield.

Sowell Financial Services LLC raised its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 50.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,147 shares of the company's stock after purchasing an additional 62,138 shares during the period. Sowell Financial Services LLC's holdings in Brookfield were worth $6,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Meadow Creek Wealth Advisors LLC lifted its position in shares of Brookfield by 2.3% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company's stock worth $417,000 after purchasing an additional 234 shares during the last quarter. State of Wyoming boosted its stake in Brookfield by 6.0% during the 1st quarter. State of Wyoming now owns 5,151 shares of the company's stock valued at $208,000 after purchasing an additional 290 shares during the period. Central Pacific Bank Trust Division grew its holdings in Brookfield by 2.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company's stock valued at $503,000 after buying an additional 300 shares during the last quarter. West Family Investments Inc. grew its holdings in Brookfield by 4.0% in the 2nd quarter. West Family Investments Inc. now owns 7,890 shares of the company's stock valued at $336,000 after buying an additional 304 shares during the last quarter. Finally, Gould Asset Management LLC CA lifted its holdings in shares of Brookfield by 3.6% during the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company's stock worth $358,000 after buying an additional 310 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Brookfield stock opened at $39.47 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $96.78 billion, a P/E ratio of 71.76 and a beta of 1.56. The business has a 50-day moving average of $38.25 and a 200-day moving average of $42.63. Brookfield Corporation has a 1 year low of $35.61 and a 1 year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 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 business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. On average, equities analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's payout ratio is presently 50.91%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an "overweight" rating in a research report on Tuesday, July 21st. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. TD boosted their target price on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Zacks Research lowered Brookfield from a "hold" rating to a "strong sell" rating in a research report on Monday, October 19th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.40.

About Brookfield

Brookfield Corporation NYSE: BN is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield's portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.

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