Scotia Capital Inc. Buys 89,081 Shares of Brookfield Corporation (NYSE:BN)

Key Points

• Scotia Capital Inc. increased its holdings in Brookfield Corporation by 1.3%, now owning a total of 6,946,261 shares after acquiring 89,081 shares during the 1st quarter.
• Brookfield recently reported earnings of $0.98 EPS, surpassing analysts' expectations, with revenues of $1.37 billion for the quarter.
• The company declared a quarterly dividend of $0.09, resulting in an annualized yield of 0.6% and a payout ratio of 128.57%.

Scotia Capital Inc. raised its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,946,261 shares of the company's stock after acquiring an additional 89,081 shares during the period. Brookfield makes up 1.9% of Scotia Capital Inc.'s investment portfolio, making the stock its 12th largest position. Scotia Capital Inc. owned about 0.42% of Brookfield worth $362,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new stake in shares of Brookfield in the 4th quarter valued at about $29,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Brookfield in the 1st quarter valued at about $26,000. North Capital Inc. purchased a new stake in shares of Brookfield in the 1st quarter valued at about $27,000. ST Germain D J Co. Inc. purchased a new stake in shares of Brookfield in the 1st quarter valued at about $28,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Brookfield by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company's stock valued at $31,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $65.32 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The stock's 50-day moving average is $62.02 and its 200 day moving average is $57.54. The stock has a market cap of $107.70 billion, a price-to-earnings ratio of 233.29 and a beta of 1.70. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $68.75.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank reaffirmed an "outperform" rating and issued a $75.00 price target (up previously from $69.00) on shares of Brookfield in a report on Wednesday. Royal Bank Of Canada initiated coverage on Brookfield in a report on Wednesday, June 18th. They issued an "outperform" rating and a $81.00 price target on the stock. Wall Street Zen cut Brookfield from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. decreased their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, National Bank Financial initiated coverage on Brookfield in a report on Tuesday, July 29th. They set an "outperform" rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Profile

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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