Brookfield Corporation $BN Stock Acquired by Obermeyer Wealth Partners

Obermeyer Wealth Partners grew its stake in shares of Brookfield Corporation (NYSE:BN) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 662,416 shares of the company’s stock after purchasing an additional 19,950 shares during the period. Brookfield makes up about 1.0% of Obermeyer Wealth Partners’ holdings, making the stock its 28th largest position. Obermeyer Wealth Partners’ holdings in Brookfield were worth $24,152,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cardinal Capital Management Inc. grew its position in Brookfield by 2.5% during the second quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock worth $138,287,000 after buying an additional 80,738 shares during the period. Headlands Technologies LLC increased its holdings in Brookfield by 181.4% in the second quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock valued at $3,909,000 after buying an additional 59,166 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in Brookfield by 1.8% in the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock valued at $595,676,000 after buying an additional 248,479 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Brookfield by 520.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock valued at $2,031,000 after acquiring an additional 39,994 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Brookfield during the 2nd quarter valued at approximately $5,498,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Up 0.4%

Shares of NYSE:BN opened at $37.48 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The firm has a market cap of $91.91 billion, a price-to-earnings ratio of 68.15 and a beta of 1.56. The stock’s 50-day moving average price is $38.77 and its two-hundred day moving average price is $42.33. Brookfield Corporation has a 12-month low of $35.61 and a 12-month high of $49.56.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. On average, research analysts forecast that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s dividend payout ratio is 50.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BN. TD lifted their price objective on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Scotiabank reiterated an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Scotia lifted 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. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.