TD Waterhouse Canada Inc. Grows Stake in Brookfield Corporation $BN

Key Points

• TD Waterhouse Canada increased its Brookfield stake by 1.8% in the second quarter, adding 248,479 shares to own 13.9 million shares worth approximately $595.7 million, or 0.57% of Brookfield.
• Brookfield reported quarterly EPS of $0.66, beating estimates of $0.62, on revenue of $1.66 billion. The company also declared a quarterly dividend of $0.07 per share, representing a 0.7% annualized yield.
• Analysts remain broadly positive, with Brookfield carrying a “Moderate Buy” consensus rating and an average price target of $57.40, compared with a recent share price of $40.43.

TD Waterhouse Canada Inc. boosted its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,903,270 shares of the company's stock after purchasing an additional 248,479 shares during the quarter. Brookfield comprises 1.6% of TD Waterhouse Canada Inc.'s portfolio, making the stock its 15th biggest holding. TD Waterhouse Canada Inc. owned 0.57% of Brookfield worth $595,676,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BN. MCF Advisors LLC purchased a new stake in Brookfield during the 4th quarter valued at approximately $26,000. Quattro Advisors LLC purchased a new position in shares of Brookfield in the fourth quarter worth $26,000. Truvestments Capital LLC boosted its position in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after acquiring an additional 213 shares during the last quarter. Entrust Financial LLC bought a new position in shares of Brookfield during the fourth quarter worth $35,000. Finally, Delta Asset Management LLC TN grew its stake in Brookfield by 49.8% during the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company's stock valued at $43,000 after acquiring an additional 311 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $40.43 on Friday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The firm's fifty day moving average is $42.76 and its 200 day moving average is $43.44. The company has a market cap of $99.13 billion, a price-to-earnings ratio of 73.51 and a beta of 1.53.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The business had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. Sell-side analysts forecast that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield's dividend payout ratio (DPR) is presently 50.91%.

Analyst Ratings Changes

BN has been the topic of a number of research reports. Royal Bank Of Canada reduced their price target on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, May 15th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an "overweight" rating in a research report on Tuesday, July 21st. BMO Capital Markets raised Brookfield to a "strong-buy" rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on Brookfield from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Finally, TD increased their price target on Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $57.40.

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.

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