Brookfield Corporation $BN Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 19.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,881,844 shares of the company’s stock after selling 448,116 shares during the quarter. Corient Private Wealth LP’s holdings in Brookfield were worth $80,148,000 at the end of the most recent quarter.

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

Brookfield Trading Up 0.4%

NYSE:BN opened at $38.20 on Friday. The stock has a market cap of $93.66 billion, a PE ratio of 69.45 and a beta of 1.53. Brookfield Corporation has a fifty-two week low of $37.85 and a fifty-two week high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The stock’s 50-day moving average is $42.30 and its two-hundred day moving average is $43.13.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. As a group, equities research analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s dividend payout ratio is currently 50.91%.

Wall Street Analysts Forecast Growth

BN has been the topic of several research reports. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Scotia increased their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Scotiabank reissued an “outperform” rating and issued a $54.00 target price (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.