TD Waterhouse Canada Inc. Acquires 2,230,353 Shares of Brookfield Corporation $BN

Key Points

• TD Waterhouse Canada boosted its Brookfield stake by 58%, buying an additional 2,230,353 shares to hold 6,078,402 shares valued at about $278,616,000, representing 0.25% of Brookfield and ~1.7% of TD Waterhouse's portfolio (its 10th largest holding).
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average price target of $54.20, after firms including RBC, BMO and National Bank raised targets into the mid‑$50s.
• Brookfield recently raised its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield) and beat Q results on EPS ($0.67 vs. $0.61 estimate), while the stock trades near $46.60.

TD Waterhouse Canada Inc. increased its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 58.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,078,402 shares of the company's stock after acquiring an additional 2,230,353 shares during the period. Brookfield makes up about 1.7% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 10th largest holding. TD Waterhouse Canada Inc. owned 0.25% of Brookfield worth $278,616,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Tred Avon Family Wealth LLC grew its position in shares of Brookfield by 50.0% during the 4th quarter. Tred Avon Family Wealth LLC now owns 8,685 shares of the company's stock valued at $399,000 after acquiring an additional 2,895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Brookfield by 56.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 928,322 shares of the company's stock valued at $42,680,000 after acquiring an additional 336,811 shares during the period. Lorne Steinberg Wealth Management Inc. grew its position in shares of Brookfield by 52.7% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 159,026 shares of the company's stock valued at $7,312,000 after acquiring an additional 54,901 shares during the period. Baskin Financial Services Inc. grew its position in shares of Brookfield by 48.9% during the 4th quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company's stock valued at $62,149,000 after acquiring an additional 444,872 shares during the period. Finally, Institute for Wealth Management LLC. grew its position in shares of Brookfield by 50.0% during the 4th quarter. Institute for Wealth Management LLC. now owns 8,010 shares of the company's stock valued at $368,000 after acquiring an additional 2,669 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of analyst reports. Royal Bank Of Canada raised their target price on 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 upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. BMO Capital Markets raised their target price on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. National Bank Financial raised their target price on Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $54.20.

Brookfield Trading Up 0.0%

BN stock 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. Brookfield Corporation has a 12-month low of $31.62 and a 12-month high of $49.56. The stock has a market cap of $114.20 billion, a price-to-earnings ratio of 94.45 and a beta of 1.56. The business's 50-day moving average is $42.81 and its 200 day moving average is $44.85.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analysts' expectations of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. This is an increase from Brookfield's previous quarterly dividend of $0.06. Brookfield's 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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