Kestra Private Wealth Services LLC Boosts Stock Position in Brookfield Corporation $BN

Key Points

• Kestra Private Wealth increased its stake in Brookfield by 52.1% in Q4, adding 39,912 shares to hold 116,549 shares valued at about $5.35 million.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $55.65, after several firms raised their targets while a few trimmed theirs.
• Brookfield raised its quarterly dividend to $0.07 (annualized $0.28, 0.6% yield) and reported Q4 EPS of $0.67, beating estimates, though the stock trades at a high P/E (~89.6).

Kestra Private Wealth Services LLC boosted its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 116,549 shares of the company's stock after acquiring an additional 39,912 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Brookfield were worth $5,348,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. First Horizon Corp purchased a new position in Brookfield during the 3rd quarter valued at $40,000. Exchange Traded Concepts LLC bought a new stake in Brookfield during the 4th quarter valued at $27,000. Versant Capital Management Inc raised its position in Brookfield by 507.5% during the 3rd 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. Hilltop National Bank raised its position in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company's stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in shares of Brookfield by 49.9% in the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company's stock valued at $37,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on BN. BMO Capital Markets 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. Royal Bank Of Canada lifted their price objective on Brookfield from $60.00 to $63.00 and gave the company an "outperform" rating in a report on Monday, April 20th. Scotiabank decreased their price objective on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a report on Wednesday, March 25th. National Bank Financial lifted their price objective on Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $55.65.

Brookfield Stock Performance

Shares of Brookfield stock opened at $44.18 on Wednesday. The company has a market capitalization of $108.28 billion, a PE ratio of 89.56 and a beta of 1.56. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The company has a 50-day simple moving average of $42.55 and a two-hundred day simple moving average of $44.88. Brookfield Corporation has a one year low of $34.88 and a one year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Research analysts expect that Brookfield Corporation will post 2.95 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield's payout ratio is presently 57.14%.

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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