Live Oak Private Wealth LLC Reduces Stake in Brookfield Corporation $BN

Live Oak Private Wealth LLC lowered its stake in Brookfield Corporation (NYSE:BN) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 300,061 shares of the company’s stock after selling 20,657 shares during the quarter. Brookfield makes up 1.7% of Live Oak Private Wealth LLC’s investment portfolio, making the stock its 16th largest position. Live Oak Private Wealth LLC’s holdings in Brookfield were worth $12,780,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BN. AQR Capital Management LLC lifted its holdings in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock worth $963,000 after buying an additional 11,069 shares in the last quarter. NewEdge Advisors LLC grew its stake in Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after acquiring an additional 295 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after acquiring an additional 1,396 shares during the period. AXA S.A. increased its holdings in Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after acquiring an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in Brookfield by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock worth $1,577,000 after purchasing an additional 5,821 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

BN has been the subject of several analyst reports. TD Securities reissued a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Scotia increased their price objective on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Royal Bank Of Canada lowered their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. TD lifted their price objective on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Scotiabank restated an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. One 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Price Performance

Shares of NYSE:BN opened at $39.68 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The stock has a market cap of $97.29 billion, a PE ratio of 72.15 and a beta of 1.53. The company’s fifty day moving average is $42.87 and its 200 day moving average is $43.55. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is presently 50.91%.

Brookfield Company 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.