State of New Jersey Common Pension Fund D Boosts Stock Holdings in Brookfield Corporation $BN

Key Points

• State of New Jersey Common Pension Fund D increased its stake in Brookfield Corporation by 50.0%, buying 52,917 more shares to hold 158,751 shares worth about $7.285 million at quarter end.
• Other institutions also piled in—most notably Vanguard, which added 31,543,313 shares to own 92,103,120 shares valued at roughly $4.23 billion—and overall institutional ownership stands at 61.60%.
• Analysts rate the stock a consensus “Moderate Buy” with a $55.65 average price target, and several firms (RBC, National Bank Financial, BMO) have recently raised their targets.

State of New Jersey Common Pension Fund D raised its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 50.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,751 shares of the company's stock after buying an additional 52,917 shares during the period. State of New Jersey Common Pension Fund D's holdings in Brookfield were worth $7,285,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BN. Vanguard Group Inc. boosted its position in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the period. Lone Pine Capital LLC boosted its position in Brookfield by 81.1% during the third quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company's stock valued at $698,237,000 after buying an additional 4,559,963 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Brookfield during the third quarter valued at about $171,104,000. TD Waterhouse Canada Inc. boosted its position in Brookfield by 58.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,078,402 shares of the company's stock valued at $278,616,000 after buying an additional 2,230,353 shares during the period. Finally, Baillie Gifford & Co. boosted its position in Brookfield by 45.4% during the fourth quarter. Baillie Gifford & Co. now owns 7,013,657 shares of the company's stock valued at $321,857,000 after buying an additional 2,191,270 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Brookfield from $60.00 to $63.00 and gave the company an "outperform" rating in a research report on Monday, April 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. National Bank Financial increased their target price on shares of Brookfield from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Scotiabank dropped their target price on shares of Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a report on Wednesday, March 25th. Finally, BMO Capital Markets increased their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.65.

Brookfield Stock Performance

Brookfield stock opened at $45.25 on Friday. 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 has a 50-day moving average of $42.45 and a 200-day moving average of $44.87. The firm has a market cap of $110.88 billion, a P/E ratio of 91.71 and a beta of 1.55. Brookfield Corporation has a 1-year low of $35.95 and a 1-year high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Sell-side analysts expect that Brookfield Corporation will post 2.95 EPS for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.07 dividend. The ex-dividend date of this dividend 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 yield of 0.6%. Brookfield's payout ratio is currently 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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