Cornerstone Advisory LLC Buys 7,075 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• Cornerstone Advisory LLC increased its stake in Brookfield Corporation by 47.7%, acquiring 7,075 shares during the first quarter, bringing its total holdings to 21,905 shares worth $1,194,000.
• Analysts have issued mixed ratings on Brookfield, with target prices ranging from $65.00 to $81.00, and the average rating categorized as a "Moderate Buy."
• Brookfield recently announced a quarterly dividend of $0.09 per share, resulting in a dividend yield of 0.53%, though the company's payout ratio stands at a high 128.57%.

Cornerstone Advisory LLC lifted its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 47.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,905 shares of the company's stock after purchasing an additional 7,075 shares during the period. Cornerstone Advisory LLC's holdings in Brookfield were worth $1,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strategic Wealth Partners Ltd. increased its holdings in shares of Brookfield by 1.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after acquiring an additional 170 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in shares of Brookfield by 1.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after acquiring an additional 197 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Brookfield by 2.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,375 shares of the company's stock worth $387,000 after acquiring an additional 209 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Brookfield by 3.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 7,364 shares of the company's stock worth $392,000 after acquiring an additional 265 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its holdings in shares of Brookfield by 1.7% during the 1st quarter. Marks Group Wealth Management Inc now owns 15,978 shares of the company's stock worth $837,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BN. Morgan Stanley reaffirmed an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. JPMorgan Chase & Co. decreased their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. National Bank Financial began coverage on Brookfield in a report on Tuesday. They issued an "outperform" rating and a $82.00 price objective on the stock. Scotiabank decreased their price objective on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. Finally, Wall Street Zen lowered Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of "Moderate Buy" and a consensus target price of $69.30.

Brookfield Price Performance

Shares of Brookfield stock traded up $0.50 on Wednesday, reaching $68.29. 712,098 shares of the stock were exchanged, compared to its average volume of 2,634,934. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The firm has a market cap of $112.59 billion, a PE ratio of 243.95 and a beta of 1.66. The firm's 50 day moving average is $61.44 and its 200-day moving average is $57.31. Brookfield Corporation has a one year low of $42.21 and a one year high of $68.75.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. As a group, analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.53%. Brookfield's dividend payout ratio is currently 128.57%.

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.