M&G PLC Buys 358,318 Shares of Brookfield Corporation $BN

Key Points

• M&G PLC increased its Brookfield stake by 18.2% in the third quarter, adding 358,318 shares to hold 2,328,749 shares valued at about $83.8 million.
• Institutional investors and hedge funds own 61.6% of Brookfield. Analysts’ consensus is “Moderate Buy,” with an average price target of $57.40.
• Brookfield reported quarterly EPS of $0.66, beating the $0.62 consensus estimate; it also paid a quarterly dividend of $0.07 per share, equivalent to a 0.7% annualized yield.

M&G PLC grew its stake in Brookfield Corporation (NYSE:BN - Free Report) by 18.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,328,749 shares of the company's stock after buying an additional 358,318 shares during the period. M&G PLC owned approximately 0.09% of Brookfield worth $83,835,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC acquired a new position in shares of Brookfield during the 3rd quarter valued at about $26,000. Silicon Valley Capital Partners bought a new position in shares of Brookfield in the 2nd quarter valued at approximately $32,000. Kings Path Partners LLC bought a new position in shares of Brookfield in the 3rd quarter valued at approximately $35,000. Virginia Estate & Retirement Planning Advisors Inc. acquired a new stake in Brookfield in the 3rd quarter worth approximately $46,000. Finally, Fulcrum Asset Management LLP acquired a new stake in Brookfield in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Morgan Stanley set a $59.00 price target on Brookfield and gave the company an "overweight" rating in a report on Tuesday, July 21st. Scotiabank reissued an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Zacks Research cut shares of Brookfield from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. TD upped their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Finally, Scotia raised their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Price Performance

NYSE BN opened at $42.98 on Tuesday. Brookfield Corporation has a twelve month low of $35.61 and a twelve month high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The stock has a market capitalization of $105.42 billion, a PE ratio of 78.15 and a beta of 1.53. The stock has a 50-day simple moving average of $38.22 and a 200 day simple moving average of $42.44.

Brookfield (NYSE:BN - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. The firm 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%. Research analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield's dividend payout ratio is currently 50.91%.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company's operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.

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