Mufg Securities Canada LTD. Trims Position in Brookfield Corporation $BN

Key Points

• MUFG Securities Canada reduced its Brookfield stake by 7.6% in the second quarter, selling 247,113 shares and retaining 3.02 million shares valued at approximately $128.7 million. Brookfield represents about 3.4% of the firm’s portfolio, while institutional investors collectively own 61.6% of the stock.
• Analysts remain broadly optimistic, with Brookfield receiving an average “Buy” rating and a consensus price target of $56.91. Recent targets range from $54 to $61, implying potential upside from the stock’s opening price of $41.19.
• Brookfield exceeded quarterly earnings expectations, reporting $0.66 per share versus the $0.62 consensus estimate, while revenue matched expectations at $1.66 billion. The company also declared a quarterly dividend of $0.07 per share, representing a 0.7% annualized yield.

Mufg Securities Canada LTD. trimmed its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,022,165 shares of the company's stock after selling 247,113 shares during the period. Brookfield makes up about 3.4% of Mufg Securities Canada LTD.'s portfolio, making the stock its 11th biggest position. Mufg Securities Canada LTD. owned about 0.12% of Brookfield worth $128,735,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. MCF Advisors LLC acquired a new position in Brookfield during the fourth quarter valued at $26,000. Quattro Advisors LLC purchased a new position in shares of Brookfield during the 4th quarter valued at about $26,000. Truvestments Capital LLC raised its stake in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company's stock valued at $29,000 after buying an additional 213 shares during the last quarter. Entrust Financial LLC acquired a new position in shares of Brookfield in the 4th quarter valued at about $35,000. Finally, Delta Asset Management LLC TN boosted its stake in shares of Brookfield by 49.8% in the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company's stock worth $43,000 after buying an additional 311 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of analyst reports. Scotiabank reissued an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. TD lifted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a report on Friday, August 14th. Royal Bank Of Canada decreased their target price on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a research note on Friday, May 15th. Scotia upped their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a "sector outperform" rating in a research report on Friday, August 14th. Finally, Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Brookfield currently has an average rating of "Buy" and an average target price of $56.91.

Brookfield Price Performance

Brookfield stock opened at $41.19 on Tuesday. The stock has a market capitalization of $100.99 billion, a P/E ratio of 74.89 and a beta of 1.54. The company's fifty day moving average price is $42.95 and its 200 day moving average price is $43.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data 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. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. As a group, equities research analysts anticipate that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield's payout ratio is presently 50.91%.

About Brookfield

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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