Archon Partners LLC Buys Shares of 135,000 Brookfield Corporation $BN

Archon Partners LLC purchased a new position in Brookfield Corporation (NYSE:BN) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 135,000 shares of the company’s stock, valued at approximately $5,463,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in Brookfield in the 4th quarter worth $26,000. Quattro Advisors LLC bought a new position in Brookfield during the fourth quarter worth about $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Brookfield during the 4th quarter worth approximately $27,000. Truvestments Capital LLC boosted its position in Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC boosted its position in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Scotia upped their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday. Finally, TD increased their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $56.64.

Brookfield Stock Performance

Shares of NYSE:BN opened at $41.69 on Friday. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company’s 50 day moving average price is $44.12 and its two-hundred day moving average price is $44.34. The firm has a market cap of $102.18 billion, a PE ratio of 81.74 and a beta of 1.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s payout ratio is 54.90%.

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.