Oppenheimer Asset Management Inc. Boosts Position in Brookfield Corporation (NYSE:BN)

Oppenheimer Asset Management Inc. lifted its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 106,602 shares of the company's stock after acquiring an additional 4,244 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Brookfield were worth $5,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BN. Vanguard Group Inc. boosted its stake in Brookfield by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock worth $3,443,129,000 after purchasing an additional 974,533 shares during the period. Capital World Investors boosted its stake in Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after purchasing an additional 1,782,034 shares during the period. FIL Ltd boosted its stake in Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock worth $1,169,912,000 after purchasing an additional 1,640,903 shares during the period. Norges Bank bought a new position in Brookfield in the 4th quarter worth about $973,591,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Brookfield by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock worth $682,497,000 after purchasing an additional 129,735 shares during the period. Institutional investors own 61.60% of the company's stock.

Brookfield Price Performance

Shares of NYSE BN traded up $0.86 during trading hours on Thursday, reaching $61.06. 1,764,066 shares of the stock traded hands, compared to its average volume of 2,534,070. The company has a market capitalization of $100.63 billion, a P/E ratio of 218.08 and a beta of 1.66. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a 52-week low of $40.61 and a 52-week high of $62.78. The company's 50-day simple moving average is $56.79 and its two-hundred day simple moving average is $56.16.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. Equities research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.59%. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BN shares. Royal Bank Of Canada started coverage on Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target for the company. Scotiabank dropped their price target on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. dropped their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield currently has an average rating of "Moderate Buy" and an average target price of $66.13.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.