Havemeyer Place LP Invests $1.22 Million in Brookfield Corporation $BN

Havemeyer Place LP purchased a new position in shares of Brookfield Corporation (NYSE:BN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,609 shares of the company’s stock, valued at approximately $1,221,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Chemistry Wealth Management LLC grew its stake in Brookfield by 51.6% during the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the period. PCJ Investment Counsel Ltd. grew its stake in Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after purchasing an additional 122,040 shares during the period. Florida Trust Wealth Management Co grew its stake in Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after purchasing an additional 387,068 shares during the period. Citigroup Inc. grew its stake in Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after purchasing an additional 221,078 shares during the period. Finally, Vanguard Group Inc. grew its stake in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 0.0%

Shares of NYSE:BN opened at $44.60 on Monday. The business’s 50 day simple moving average is $44.40 and its two-hundred day simple moving average is $44.89. The firm has a market cap of $109.30 billion, a P/E ratio of 87.45 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be 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 is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Analyst Upgrades and Downgrades

BN has been the subject of several recent analyst reports. National Bank Financial raised their target price on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. BMO Capital Markets raised their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. increased their price target on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada cut their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $56.82.

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.