W.G. Shaheen & Associates DBA Whitney & Co Invests $1.70 Million in Brookfield Corporation $BN

Key Points

• W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake of 37,085 shares in Brookfield Corporation (NYSE:BN) during Q4, valued at approximately $1.70 million.
• Several analysts have recently raised targets and ratings (including RBC, National Bank Financial and Morgan Stanley), leaving the stock with a consensus rating of Moderate Buy and a consensus target price of $55.65.
• Brookfield posted an earnings beat for the quarter ($0.67 vs. $0.61 expected) and increased its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield); the shares trade near $43 with a market cap around $105.8 billion.

W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in shares of Brookfield Corporation (NYSE:BN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 37,085 shares of the company's stock, valued at approximately $1,702,000.

Several other hedge funds have also recently modified their holdings of BN. First Horizon Corp acquired a new position in Brookfield in the 3rd quarter worth approximately $40,000. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield during the 4th quarter valued at approximately $27,000. Versant Capital Management Inc lifted 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 buying an additional 543 shares in the last quarter. Hilltop National Bank lifted its holdings in Brookfield by 49.9% in 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 in the last quarter. Finally, ST Germain D J Co. Inc. lifted its holdings in Brookfield by 49.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 811 shares of the company's stock valued at $37,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Upgrades and Downgrades

BN has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on Brookfield from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Friday, March 27th. Zacks Research raised Brookfield from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. National Bank Financial lifted 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, Morgan Stanley reaffirmed an "overweight" rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.65.

Brookfield Stock Performance

Shares of BN opened at $43.15 on Thursday. The stock has a 50-day simple moving average of $42.47 and a 200-day simple moving average of $44.87. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32. The stock has a market capitalization of $105.75 billion, a PE ratio of 87.47 and a beta of 1.56. Brookfield Corporation has a 1 year low of $34.88 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 the consensus estimate of $0.61 by $0.06. The firm had revenue of $1.63 billion during 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, analysts predict that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield's dividend payout ratio (DPR) is presently 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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