HB Wealth Management LLC Raises Stock Position in Brookfield Corporation (NYSE:BN)

Key Points

• HB Wealth Management LLC increased its holdings in Brookfield Corporation by 348.3%, acquiring an additional 86,208 shares during the 1st quarter, bringing its total to 110,956 shares valued at approximately $5.8 million.
• Brookfield Corporation recently reported quarterly earnings of $0.98 per share, exceeding analyst expectations of $0.90, with revenue reaching $1.37 billion.
• A quarterly dividend of $0.09 per share was declared, resulting in an annualized dividend of $0.36 and a yield of 0.53%, despite a high current payout ratio of 128.57%.

HB Wealth Management LLC lifted its position in Brookfield Corporation (NYSE:BN - Free Report) by 348.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,956 shares of the company's stock after purchasing an additional 86,208 shares during the period. HB Wealth Management LLC's holdings in Brookfield were worth $5,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Brookfield during the first quarter valued at $26,000. North Capital Inc. bought a new position in Brookfield during the first quarter valued at $27,000. ST Germain D J Co. Inc. bought a new position in Brookfield during the first quarter valued at $28,000. CoreCap Advisors LLC bought a new position in Brookfield during the fourth quarter valued at $29,000. Finally, Golden State Wealth Management LLC increased its position in Brookfield by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after acquiring an additional 296 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. National Bankshares set a $82.00 target price on shares of Brookfield and gave the company an "outperform" rating in a research note on Tuesday. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Scotiabank decreased their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Royal Bank Of Canada assumed coverage on shares of Brookfield in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price objective for the company. Finally, TD Securities lowered their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield presently has an average rating of "Moderate Buy" and a consensus price target of $69.30.

Brookfield Stock Performance

NYSE BN traded up $0.47 on Wednesday, hitting $68.26. 634,025 shares of the company's stock traded hands, compared to its average volume of 2,633,611. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $68.75. The firm's 50-day moving average price is $61.44 and its two-hundred day moving average price is $57.31. The firm has a market capitalization of $112.54 billion, a PE ratio of 243.55 and a beta of 1.66.

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 analysts' expectations of $1.36 billion. As a group, analysts expect that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

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