Brookfield Corporation $BN Stock: Curated Wealth Partners LLC Cuts Position

Key Points

• Curated Wealth Partners cut its Brookfield stake by 97.2% in the third quarter, selling 194,455 shares and retaining 5,545 shares valued at approximately $202,000. Institutional investors collectively own 61.6% of BN.
• Brookfield shares opened at $36.58, near their one-year low of $35.61 and below both the 50-day and 200-day moving averages. The company recently reported quarterly EPS of $0.66, exceeding the $0.62 analyst consensus.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.40; the company also pays a quarterly dividend of $0.07, equivalent to a 0.8% annual yield.

Curated Wealth Partners LLC trimmed its stake in Brookfield Corporation (NYSE:BN - Free Report) by 97.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,545 shares of the company's stock after selling 194,455 shares during the period. Curated Wealth Partners LLC's holdings in Brookfield were worth $202,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Lipe & Dalton raised its holdings in Brookfield by 0.3% in the third quarter. Lipe & Dalton now owns 165,381 shares of the company's stock worth $6,030,000 after purchasing an additional 551 shares in the last quarter. Triangle Securities Wealth Management lifted its position in shares of Brookfield by 2.6% during the third quarter. Triangle Securities Wealth Management now owns 161,419 shares of the company's stock valued at $5,885,000 after buying an additional 4,090 shares during the last quarter. Mather Group LLC. boosted its holdings in shares of Brookfield by 31.6% in the 3rd quarter. Mather Group LLC. now owns 1,812 shares of the company's stock valued at $66,000 after buying an additional 435 shares in the last quarter. First Pacific Financial boosted its holdings in shares of Brookfield by 3.4% in the 3rd quarter. First Pacific Financial now owns 16,422 shares of the company's stock valued at $599,000 after buying an additional 534 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of Brookfield in the 3rd quarter valued at about $26,000. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

NYSE BN opened at $36.58 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The stock's fifty day moving average price is $39.22 and its 200 day moving average price is $42.41. Brookfield Corporation has a 1 year low of $35.61 and a 1 year high of $49.56. The company has a market cap of $89.70 billion, a price-to-earnings ratio of 66.51 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (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 analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities research analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on BN. TD boosted their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Scotia raised their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. Scotiabank restated an "outperform" rating and issued a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brookfield in a report on Monday, September 21st. Finally, BMO Capital Markets raised Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Profile

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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