Avanza Fonder AB Boosts Stock Position in Brookfield Corporation $BN

Avanza Fonder AB increased its holdings in Brookfield Corporation (NYSE:BN) by 68.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,801 shares of the company’s stock after purchasing an additional 51,551 shares during the period. Avanza Fonder AB’s holdings in Brookfield were worth $5,819,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BN. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brookfield in the 2nd quarter worth $32,000. First Horizon Corp purchased a new stake in shares of Brookfield during the 3rd quarter valued at about $40,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Brookfield by 109.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after acquiring an additional 330 shares during the last quarter. Versant Capital Management Inc lifted 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 valued at $45,000 after acquiring an additional 543 shares during the last quarter. Finally, Hilltop National Bank grew its position in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. National Bank Financial boosted their price objective on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. BMO Capital Markets lifted their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.59.

Brookfield Stock Up 3.1%

Shares of NYSE:BN opened at $39.46 on Tuesday. The firm has a market capitalization of $96.66 billion, a PE ratio of 79.98 and a beta of 1.58. The business has a 50 day simple moving average of $44.54 and a two-hundred day simple moving average of $45.40. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders 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 dividend yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio is 57.14%.

Brookfield Company 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.