Oppenheimer Asset Management Inc. Increases Position in Brookfield Corporation $BN

Oppenheimer Asset Management Inc. boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 40.1% in the 4th quarter, Holdings Channel reports. The fund owned 140,822 shares of the company’s stock after acquiring an additional 40,324 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Brookfield were worth $6,462,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BN. Vanguard Group Inc. grew its stake in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. Lone Pine Capital LLC grew its stake in Brookfield by 81.1% during the 3rd quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company’s stock valued at $698,237,000 after acquiring an additional 4,559,963 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Brookfield during the 3rd quarter valued at about $171,104,000. TD Waterhouse Canada Inc. grew its stake in Brookfield by 58.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,078,402 shares of the company’s stock valued at $278,616,000 after acquiring an additional 2,230,353 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in shares of Brookfield by 45.4% in the 4th quarter. Baillie Gifford & Co. now owns 7,013,657 shares of the company’s stock valued at $321,857,000 after buying an additional 2,191,270 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Brookfield from $60.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. BMO Capital Markets increased their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Scotiabank dropped their price target on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research note on Wednesday, March 25th. Finally, National Bank Financial increased their price target on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. One equities 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.65.

Brookfield Price Performance

Brookfield stock opened at $45.25 on Friday. The firm has a market cap of $110.88 billion, a PE ratio of 91.71 and a beta of 1.55. Brookfield Corporation has a 52-week low of $35.95 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 company’s 50 day moving average is $42.45 and its two-hundred day moving average is $44.87.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. On average, research analysts expect that Brookfield Corporation will post 2.95 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio (DPR) is 57.14%.

Brookfield 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.