Canal Capital Management LLC Acquires 91,976 Shares of Brookfield Corporation $BN

Key Points

• Canal Capital Management dramatically increased its stake in Brookfield, acquiring 91,976 shares in Q4 for a total holding of 96,116 shares — a 2,221.6% increase valued at about $4.41 million.
• Brookfield beat Q4 EPS estimates ($0.67 vs. $0.61) with revenue in line at $1.63 billion, and analysts rate the stock a "Moderate Buy" with an average price target of about $54.59.
• The company raised its quarterly dividend to $0.07 (annualized $0.28) for a yield of 0.7%, with an ex‑dividend date of March 17 and a payout ratio of 57.14%.

Canal Capital Management LLC lifted its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 2,221.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 96,116 shares of the company's stock after acquiring an additional 91,976 shares during the period. Canal Capital Management LLC's holdings in Brookfield were worth $4,411,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield in the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company's stock worth $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp bought a new position in Brookfield during the third quarter worth about $40,000. Versant Capital Management Inc boosted its holdings in Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $45,000 after purchasing an additional 543 shares in the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in Brookfield during the second quarter valued at approximately $63,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of Brookfield stock opened at $39.12 on Friday. The stock has a market capitalization of $95.83 billion, a price-to-earnings ratio of 79.29 and a beta of 1.58. The firm's 50-day moving average price is $44.90 and its two-hundred day moving average price is $45.45. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, equities analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. Brookfield's dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

BN has been the subject of a number of recent research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a report on Monday, December 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. Scotiabank reiterated an "outperform" rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. BMO Capital Markets increased their price objective on Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada lifted their price objective on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $54.59.

Brookfield Profile

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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