Archon Partners LLC Invests $10.97 Million in Brookfield Corporation $BN

Archon Partners LLC bought a new stake in shares of Brookfield Corporation (NYSE:BN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 160,000 shares of the company’s stock, valued at approximately $10,973,000.

A number of other large investors also recently added to or reduced their stakes in the business. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield in the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares in the last quarter. First Horizon Corp bought a new position in Brookfield during the third quarter valued at $40,000. Versant Capital Management Inc boosted its holdings in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after purchasing an additional 543 shares during the period. Finally, Financial Gravity Companies Inc. bought a new position in shares of Brookfield during the 2nd quarter valued at approximately $51,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

BN opened at $38.38 on Friday. The firm’s fifty day simple moving average is $45.60 and its two-hundred day simple moving average is $45.57. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The company has a market cap of $94.01 billion, a price-to-earnings ratio of 77.79 and a beta of 1.58.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. Equities analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th 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 of this dividend is Tuesday, March 17th. This is an increase from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is 48.98%.

Analyst Upgrades and Downgrades

BN has been the subject of several analyst reports. Morgan Stanley restated an “overweight” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, February 17th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $52.00 target price (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. TD Securities lifted their price objective on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, National Bank Financial boosted their price objective on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. One investment 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 stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

About Brookfield

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.