PCJ Investment Counsel Ltd. Has $6.86 Million Position in Brookfield Corporation $BN

PCJ Investment Counsel Ltd. grew its holdings in Brookfield Corporation (NYSE:BN) by 18.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,740 shares of the company’s stock after purchasing an additional 17,510 shares during the quarter. Brookfield comprises about 2.3% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 12th biggest position. PCJ Investment Counsel Ltd.’s holdings in Brookfield were worth $6,858,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BN. Chicago Partners Investment Group LLC boosted its stake in Brookfield by 13.5% during the first quarter. Chicago Partners Investment Group LLC now owns 290,942 shares of the company’s stock worth $16,261,000 after acquiring an additional 34,573 shares in the last quarter. C WorldWide Group Holding A S increased its stake in Brookfield by 96.3% in the second quarter. C WorldWide Group Holding A S now owns 45,515 shares of the company’s stock valued at $2,815,000 after purchasing an additional 22,331 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Brookfield by 122.8% during the second quarter. Atlantic Union Bankshares Corp now owns 160,104 shares of the company’s stock valued at $9,902,000 after purchasing an additional 88,239 shares during the period. Banco Santander S.A. bought a new position in shares of Brookfield during the 1st quarter worth about $509,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Brookfield by 7.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 178,082 shares of the company’s stock worth $9,333,000 after purchasing an additional 12,666 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $45.72 on Friday. The business’s 50 day moving average is $45.54 and its 200 day moving average is $42.45. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.47. The stock has a market cap of $113.15 billion, a price-to-earnings ratio of 159.48 and a beta of 1.73. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. On average, sell-side analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Brookfield in a research report on Friday, August 8th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. National Bank Financial initiated coverage on Brookfield in a research report on Tuesday, July 29th. They set an “outperform” rating and a $54.67 target price on the stock. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Brookfield from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $52.63.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.