Eleva Capital SAS Buys New Shares in Brookfield Corporation $BN

Key Points

• Eleva Capital SAS acquired 51,719 Brookfield shares in the third quarter, valued at approximately $1.89 million and representing 1.6% of its portfolio. Institutional investors and hedge funds collectively own 61.6% of Brookfield.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $57.40; recent targets range from $54 to $61.
• Brookfield shares rose 0.8% to $37.12, while the company reported quarterly EPS of $0.66, beating estimates of $0.62. It also maintains a quarterly dividend of $0.07, equivalent to a 0.8% annualized yield.

Eleva Capital SAS bought a new position in shares of Brookfield Corporation (NYSE:BN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 51,719 shares of the company's stock, valued at approximately $1,886,000. Brookfield makes up about 1.6% of Eleva Capital SAS's holdings, making the stock its 13th largest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new stake in shares of Brookfield during the 4th quarter valued at $26,000. Silicon Valley Capital Partners acquired a new stake in shares of Brookfield during the second quarter worth $32,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Brookfield during the fourth quarter valued at $44,000. Seneschal Advisors LLC lifted its holdings in shares of Brookfield by 49.9% during the fourth quarter. Seneschal Advisors LLC now owns 1,012 shares of the company's stock valued at $46,000 after purchasing an additional 337 shares during the last quarter. Finally, South Plains Financial Inc. acquired a new position in shares of Brookfield in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Ratings Changes

BN has been the subject of a number of analyst reports. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an "overweight" rating in a research note on Tuesday, July 21st. Scotia boosted their price target on shares of Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a report on Friday, August 14th. TD upped their price target on shares of Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research report on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Scotiabank reiterated an "outperform" rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. One research 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Stock Up 0.8%

NYSE BN traded up $0.29 on Tuesday, reaching $37.12. The stock had a trading volume of 1,774,623 shares, compared to its average volume of 5,096,683. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 1 year low of $35.69 and a 1 year high of $49.56. The business has a 50 day moving average price of $40.39 and a 200 day moving average price of $42.56. The company has a market capitalization of $91.03 billion, a price-to-earnings ratio of 67.51 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share 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 the consensus estimate of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. On average, analysts forecast that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Brookfield's payout ratio is 50.91%.

Brookfield Company Profile

Brookfield Corporation NYSE: BN is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield's businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.

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