Dixon Mitchell Investment Counsel Inc. Buys 757,600 Shares of Brookfield Corporation $BN

Dixon Mitchell Investment Counsel Inc. grew its stake in Brookfield Corporation (NYSE:BN) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,363,922 shares of the company’s stock after purchasing an additional 757,600 shares during the period. Brookfield makes up approximately 3.6% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 11th largest holding. Dixon Mitchell Investment Counsel Inc. owned approximately 0.10% of Brookfield worth $108,681,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Partners Value Investments L.P. grew its stake in shares of Brookfield by 50.0% in the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after purchasing an additional 60,468,651 shares during the period. Capital World Investors grew its stake in shares of Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after purchasing an additional 30,755,354 shares during the period. Vanguard Group Inc. grew its stake in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Principal Financial Group Inc. grew its stake in shares of Brookfield by 27.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after purchasing an additional 14,200,710 shares during the period. Finally, BROOKFIELD Corp ON grew its stake in shares of Brookfield by 50.2% in the 4th quarter. BROOKFIELD Corp ON now owns 46,581,943 shares of the company’s stock valued at $2,137,645,000 after purchasing an additional 15,574,559 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

BN stock opened at $45.19 on Friday. The business’s fifty day moving average is $44.92 and its 200-day moving average is $44.92. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The company has a market cap of $110.74 billion, a P/E ratio of 88.60 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is 54.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BN shares. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Scotia boosted their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Royal Bank Of Canada reduced their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. TD boosted their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, National Bank Financial boosted their target price on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $56.82.

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.