Brookfield Corporation $BN Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its stake in shares of Brookfield Corporation (NYSE:BN) by 13.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,263,185 shares of the company’s stock after acquiring an additional 1,556,042 shares during the period. Brookfield accounts for approximately 1.7% of Bank of Nova Scotia’s portfolio, making the stock its 14th biggest holding. Bank of Nova Scotia owned 0.80% of Brookfield worth $820,569,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BN. Hilltop National Bank purchased a new position in Brookfield in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brookfield during the second quarter valued at approximately $32,000. Ameritas Advisory Services LLC acquired a new stake in Brookfield during the second quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC boosted its position in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new stake in Brookfield in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 0.1%

BN opened at $46.70 on Monday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.47. The firm has a 50 day moving average price of $45.47 and a 200 day moving average price of $43.68. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The company has a market cap of $115.61 billion, a PE ratio of 129.71 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Sell-side analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.24 annualized dividend and a yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BN shares. The Goldman Sachs Group began coverage on Brookfield in a research note on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price target on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. TD Securities raised their price target on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $53.47.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.