Pictet Asset Management Holding SA Has $40.17 Million Stock Position in Brookfield Corporation $BN

Key Points

• Pictet Asset Management increased its stake in Brookfield by 36.3% in Q4, owning 873,694 shares valued at about $40.17 million after buying an additional 232,800 shares.
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $55.65, including a Morgan Stanley overweight call and a $61 target.
• Brookfield has a market capitalization of $105.75 billion and a high P/E of 87.47, recently raised its quarterly dividend to $0.07 (annualized $0.28) for a yield of about 0.6%.

Pictet Asset Management Holding SA lifted its stake in Brookfield Corporation (NYSE:BN - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 873,694 shares of the company's stock after buying an additional 232,800 shares during the period. Pictet Asset Management Holding SA's holdings in Brookfield were worth $40,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BN. Chemistry Wealth Management LLC grew its holdings in shares of Brookfield by 51.6% in the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company's stock worth $20,082,000 after purchasing an additional 148,893 shares during the last quarter. Triasima Portfolio Management inc. lifted its holdings in Brookfield by 9.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company's stock valued at $19,825,000 after purchasing an additional 23,923 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its holdings in Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company's stock valued at $15,966,000 after purchasing an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co boosted its position in Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company's stock valued at $53,986,000 after buying an additional 387,068 shares in the last quarter. Finally, Citigroup Inc. boosted its position in Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company's stock valued at $45,817,000 after buying an additional 221,078 shares in the last quarter. Institutional investors own 61.60% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BN shares. Morgan Stanley reaffirmed an "overweight" rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Friday, March 27th. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Scotiabank cut their price objective on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a research report on Wednesday, March 25th. Finally, Zacks Research raised Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.65.

Brookfield Price Performance

BN opened at $43.15 on Thursday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The stock has a market capitalization of $105.75 billion, a P/E ratio of 87.47 and a beta of 1.56. The company's 50 day simple moving average is $42.47 and its 200-day simple moving average is $44.87. 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 posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Sell-side analysts anticipate that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This is an increase 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 dividend payout ratio is presently 57.14%.

Brookfield Company 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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