Banco BTG Pactual S.A. Has $1.50 Million Stake in Brookfield Corporation $BN

Banco BTG Pactual S.A. lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 80.5% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,275 shares of the company’s stock after selling 100,000 shares during the period. Banco BTG Pactual S.A.’s holdings in Brookfield were worth $1,501,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Brookfield in the 2nd quarter valued at approximately $1,040,160,000. Pershing Square Capital Management L.P. grew its holdings in shares of Brookfield by 17.5% during the 1st quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after purchasing an additional 6,111,593 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Brookfield by 132.5% during the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after purchasing an additional 3,727,628 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Brookfield by 83.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock valued at $403,514,000 after purchasing an additional 3,500,003 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Brookfield in the second quarter worth $140,555,000. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. raised their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Wall Street Zen lowered Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $53.47.

Brookfield Stock Performance

Shares of Brookfield stock opened at $46.55 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a market cap of $115.25 billion, a P/E ratio of 129.31 and a beta of 1.57. The firm has a 50 day simple moving average of $45.56 and a 200 day simple moving average of $43.84. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47.

Brookfield (NYSE:BN) last posted 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. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Sell-side analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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

Brookfield 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.