MGO One Seven LLC Cuts Stock Position in Brookfield Corporation (NYSE:BN)

Key Points

• MGO One Seven LLC cut its stake in Brookfield Corporation by 22.8%, owning 41,960 shares valued at $2.2 million after selling 12,415 shares.
• Brookfield's stock currently has an average target price of $70.00, with a consensus rating of "Moderate Buy" and recent adjustments by several analysts.
• The company has a dividend payout ratio of 128.57% and recently announced a quarterly dividend of $0.09 per share, reflecting a 0.6% yield.

MGO One Seven LLC trimmed its position in Brookfield Corporation (NYSE:BN - Free Report) by 22.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,960 shares of the company's stock after selling 12,415 shares during the period. MGO One Seven LLC's holdings in Brookfield were worth $2,199,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Brookfield in the first quarter valued at about $26,000. North Capital Inc. purchased a new stake in Brookfield in the 1st quarter valued at approximately $27,000. ST Germain D J Co. Inc. purchased a new stake in Brookfield in the 1st quarter valued at approximately $28,000. CoreCap Advisors LLC acquired a new position in Brookfield during the 4th quarter worth approximately $29,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock worth $31,000 after buying an additional 296 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. National Bank Financial initiated coverage on shares of Brookfield in a research report on Tuesday. They set an "outperform" rating and a $82.00 target price on the stock. Royal Bank Of Canada initiated coverage on shares of Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 price target on the stock. CIBC reduced their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. Finally, National Bankshares set a $82.00 target price on shares of Brookfield and gave the stock an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Stock Down 2.6%

Shares of NYSE BN opened at $65.32 on Friday. The firm's 50-day moving average is $62.02 and its two-hundred day moving average is $57.53. The company has a market capitalization of $107.70 billion, a PE ratio of 233.29 and a beta of 1.70. Brookfield Corporation has a 12-month low of $42.21 and a 12-month high of $68.75. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.30 and a quick ratio of 1.18.

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

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

About Brookfield

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.

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