Triangle Securities Wealth Management Boosts Stock Position in Brookfield Corporation $BN

Key Points

• Triangle Securities Wealth Management increased its stake in Brookfield Corporation by 50.5% in Q4, adding 50,007 shares to hold 149,126 shares valued at about $6.843 million, making BN its 17th largest holding.
• Major institutions including Norges Bank, Lone Pine, Canada Pension Plan, Wellington and CIBC also added sizable positions, leaving institutional investors with 61.6% ownership of the stock.
• Analysts carry a consensus “Moderate Buy” rating with an average target of $54.20 while BN trades near $39.66; the company recently topped EPS estimates and raised its quarterly dividend to $0.07.

Triangle Securities Wealth Management lifted its stake in Brookfield Corporation (NYSE:BN - Free Report) by 50.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,126 shares of the company's stock after acquiring an additional 50,007 shares during the period. Brookfield makes up about 1.4% of Triangle Securities Wealth Management's holdings, making the stock its 17th largest holding. Triangle Securities Wealth Management's holdings in Brookfield were worth $6,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in BN. Norges Bank purchased a new stake in Brookfield during the 2nd quarter worth about $1,040,160,000. Lone Pine Capital LLC bought a new position in Brookfield in the 2nd quarter worth about $347,683,000. Canada Pension Plan Investment Board grew its holdings in Brookfield by 132.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company's stock valued at $405,065,000 after buying an additional 3,727,628 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Brookfield during the 3rd quarter valued at about $171,104,000. Finally, Wellington Management Group LLP increased its position in shares of Brookfield by 142.2% during the third quarter. Wellington Management Group LLP now owns 2,891,925 shares of the company's stock valued at $198,412,000 after buying an additional 1,698,019 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BN shares. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Scotiabank decreased their target price on shares of Brookfield from $52.00 to $48.50 and set a "sector outperform" rating on the stock in a report on Wednesday. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research note on Monday, December 29th. BMO Capital Markets raised their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Finally, Morgan Stanley restated an "overweight" rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, February 17th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.20.

Brookfield Stock Down 0.6%

BN opened at $39.66 on Friday. The business's fifty day simple moving average is $44.08 and its 200 day simple moving average is $45.28. Brookfield Corporation has a 52 week low of $29.07 and a 52 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 stock has a market cap of $97.14 billion, a PE ratio of 80.38 and a beta of 1.58.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results 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. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.07 dividend. This is an increase from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield's payout ratio is currently 57.14%.

About Brookfield

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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