Corient Private Wealth LLC Raises Position in Brookfield Corporation $BN

Corient Private Wealth LLC boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,231,757 shares of the company’s stock after buying an additional 80,396 shares during the period. Corient Private Wealth LLC owned approximately 0.20% of Brookfield worth $199,884,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BN. Hilltop National Bank purchased a new stake in shares of Brookfield in the 2nd quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield in the second quarter worth approximately $32,000. Ameritas Advisory Services LLC purchased a new stake in Brookfield in the second quarter valued at approximately $33,000. Cary Street Partners Investment Advisory LLC lifted 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 valued at $39,000 after purchasing an additional 330 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Brookfield in the 2nd quarter worth approximately $51,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

NYSE BN opened at $45.64 on Monday. The firm has a market cap of $112.99 billion, a price-to-earnings ratio of 126.76 and a beta of 1.57. The company has a 50-day simple moving average of $45.56 and a two-hundred day simple moving average of $43.97. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.47.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. On average, equities analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

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

Analysts Set New Price Targets

BN has been the topic of several research reports. Wall Street Zen cut shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Royal Bank Of Canada increased their target price on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, October 16th. TD Securities lifted 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. CIBC reiterated an “outperform” rating and issued a $52.00 price objective (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.47.

About Brookfield

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.