Smith Salley Wealth Management Increases Stock Holdings in Brookfield Corporation $BN

Key Points

• Smith Salley Wealth Management increased its stake in Brookfield (NYSE:BN) by 48.1% in Q4, adding 211,499 shares to hold 650,929 shares worth about $29.9 million, which is ~1.5% of the firm's holdings and its 17th largest position.
• Several other institutional investors also materially boosted positions (e.g., TD Waterhouse added 2.23M shares), leaving hedge funds and institutions owning 61.60% of Brookfield's stock.
• Brokerages give Brookfield an overall "Moderate Buy" consensus with an average price target of $54.20 after recent upgrades, and the company recently raised its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield).

Smith Salley Wealth Management raised its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 650,929 shares of the company's stock after purchasing an additional 211,499 shares during the quarter. Brookfield accounts for approximately 1.5% of Smith Salley Wealth Management's holdings, making the stock its 17th biggest position. Smith Salley Wealth Management's holdings in Brookfield were worth $29,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BN. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield by 58.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,078,402 shares of the company's stock worth $278,616,000 after purchasing an additional 2,230,353 shares during the period. Tred Avon Family Wealth LLC grew its position in Brookfield by 50.0% during the fourth quarter. Tred Avon Family Wealth LLC now owns 8,685 shares of the company's stock valued at $399,000 after buying an additional 2,895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Brookfield by 56.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 928,322 shares of the company's stock valued at $42,680,000 after buying an additional 336,811 shares during the last quarter. Lorne Steinberg Wealth Management Inc. raised its position in Brookfield by 52.7% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 159,026 shares of the company's stock worth $7,312,000 after acquiring an additional 54,901 shares during the period. Finally, Baskin Financial Services Inc. raised its position in Brookfield by 48.9% in the fourth quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company's stock worth $62,149,000 after acquiring an additional 444,872 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BN. BMO Capital Markets boosted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Royal Bank Of Canada boosted their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Zacks Research upgraded Brookfield from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Finally, Scotiabank lowered their price objective on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating on the stock in a research report on Wednesday, March 25th. One investment 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, Brookfield has an average rating of "Moderate Buy" and an average price target of $54.20.

Brookfield Stock Performance

Shares of NYSE:BN opened at $46.60 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The firm's 50-day moving average is $42.81 and its 200 day moving average is $44.85. Brookfield Corporation has a 12 month low of $31.62 and a 12 month high of $49.56. The company has a market capitalization of $114.20 billion, a price-to-earnings ratio of 94.45 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Research analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. Brookfield's dividend payout ratio (DPR) is 57.14%.

Brookfield 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.

Want to see what other hedge funds are holding BN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Corporation (NYSE:BN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.