Carmel Capital Partners LLC Sells 12,654 Shares of Brookfield Corporation $BN

Carmel Capital Partners LLC lowered its position in shares of Brookfield Corporation (NYSE:BN) by 29.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,033 shares of the company’s stock after selling 12,654 shares during the quarter. Brookfield comprises approximately 0.9% of Carmel Capital Partners LLC’s portfolio, making the stock its 23rd biggest position. Carmel Capital Partners LLC’s holdings in Brookfield were worth $2,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BN. Norges Bank purchased a new position in Brookfield during the 2nd quarter valued at about $1,040,160,000. Lone Pine Capital LLC bought a new position in shares of Brookfield during the second quarter valued at approximately $347,683,000. Canada Pension Plan Investment Board lifted its holdings 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 last quarter. Picton Mahoney Asset Management bought a new stake in shares of Brookfield in the 2nd quarter worth approximately $140,555,000. Finally, Geode Capital Management LLC grew its stake in shares of Brookfield by 19.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after buying an additional 1,770,378 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday. TD Securities raised their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a research note on Monday, October 13th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Finally, Wall Street Zen cut shares of Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield has a consensus rating of “Buy” and an average target price of $53.87.

Brookfield Stock Performance

BN stock opened at $46.66 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. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a market cap of $115.57 billion, a P/E ratio of 129.61 and a beta of 1.58. The stock’s fifty day moving average price is $46.21 and its 200-day moving average price is $45.27.

Brookfield (NYSE:BN) last posted 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. The company 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%. On average, equities analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s payout ratio is 66.67%.

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.