Third View Private Wealth LLC Buys New Stake in Brookfield Corporation $BN

Key Points

• Third View Private Wealth LLC bought a new stake of 72,090 shares in Brookfield Corporation during the fourth quarter, valued at about $3.31 million, and institutional investors now own 61.60% of the company.
• Wall Street consensus is a “Moderate Buy” with an average price target of $54.20 after recent analyst moves, including RBC and BMO raising targets to $51.
• Brookfield beat quarterly EPS estimates ($0.67 vs. $0.61) and raised its quarterly dividend to $0.07 (annualized $0.28, roughly a 0.6% yield).

Third View Private Wealth LLC bought a new stake in Brookfield Corporation (NYSE:BN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 72,090 shares of the company's stock, valued at approximately $3,308,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BN. Exchange Traded Concepts LLC acquired a new position in shares of Brookfield during the 4th quarter valued at $27,000. Hilltop National Bank increased its position in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company's stock valued at $33,000 after purchasing an additional 241 shares during the period. First Horizon Corp acquired a new position in shares of Brookfield during the 3rd quarter valued at $40,000. Versant Capital Management Inc increased its position in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $45,000 after purchasing an additional 543 shares during the period. Finally, HHM Wealth Advisors LLC increased its position in shares of Brookfield by 49.8% during the 4th quarter. HHM Wealth Advisors LLC now owns 983 shares of the company's stock valued at $45,000 after purchasing an additional 327 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the topic of several research analyst reports. Royal Bank Of Canada lifted their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research 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. Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. BMO Capital Markets lifted their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Finally, Scotiabank lowered their price target 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 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 data from MarketBeat, Brookfield currently has a consensus rating of "Moderate Buy" and an average price target of $54.20.

Brookfield Stock Performance

BN opened at $43.69 on Tuesday. The business has a fifty day simple moving average of $42.72 and a 200-day simple moving average of $44.84. Brookfield Corporation has a fifty-two week low of $31.62 and a fifty-two week high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The firm has a market cap of $107.06 billion, a PE ratio of 88.56 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS 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 firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. This is a boost from Brookfield's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 17th. Brookfield's payout ratio is 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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