Amitell Capital Pte Ltd Acquires New Position in Brookfield Corporation $BN

Amitell Capital Pte Ltd acquired a new stake in shares of Brookfield Corporation (NYSE:BN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,572 shares of the company’s stock, valued at approximately $2,508,000. Brookfield makes up 1.5% of Amitell Capital Pte Ltd’s investment portfolio, making the stock its 26th largest position.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Brookfield during the 2nd quarter worth $1,040,160,000. Lone Pine Capital LLC acquired a new stake in Brookfield in the second quarter valued at about $347,683,000. Canada Pension Plan Investment Board grew its position in Brookfield by 132.5% in 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 acquiring an additional 3,727,628 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Brookfield during the second quarter worth about $140,555,000. Finally, Geode Capital Management LLC raised its stake in Brookfield by 19.4% during the second quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after acquiring an additional 1,770,378 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BN shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Royal Bank Of Canada increased their price objective on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. TD Securities upped their price target on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, BMO Capital Markets increased their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Stock Performance

Shares of BN opened at $45.56 on Thursday. The stock has a market capitalization of $111.62 billion, a P/E ratio of 92.36 and a beta of 1.57. The firm’s fifty day simple moving average is $46.61 and its two-hundred day simple moving average is $45.71. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is presently 48.98%.

Brookfield Profile

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.