Cannell & Spears LLC Increases Stock Holdings in Brookfield Corporation $BN

Cannell & Spears LLC boosted its stake in shares of Brookfield Corporation (NYSE:BN) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,702,625 shares of the company’s stock after purchasing an additional 42,859 shares during the quarter. Brookfield accounts for approximately 2.2% of Cannell & Spears LLC’s holdings, making the stock its 8th biggest position. Cannell & Spears LLC owned 0.11% of Brookfield worth $109,278,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. MCF Advisors LLC acquired a new position in shares of Brookfield during the fourth quarter valued at about $26,000. Quattro Advisors LLC bought a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Exchange Traded Concepts LLC acquired a new stake in Brookfield during the fourth quarter worth about $27,000. Truvestments Capital LLC grew its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Finally, New England Capital Financial Advisors LLC increased its stake in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 1.2%

BN stock opened at $41.69 on Friday. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The firm has a market cap of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. The business’s 50 day moving average is $44.12 and its 200-day moving average is $44.34. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield’s payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. JPMorgan Chase & Co. boosted their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an “overweight” rating in a research note on Tuesday. TD lifted their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Scotiabank reissued an “outperform” rating and issued a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $56.64.

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.