Balefire LLC Acquires 648 Shares of Brookfield Corporation (NYSE:BN)

Balefire LLC increased its stake in Brookfield Corporation (NYSE:BN) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,999 shares of the company’s stock after purchasing an additional 648 shares during the period. Balefire LLC’s holdings in Brookfield were worth $1,205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BN. New York State Common Retirement Fund bought a new position in shares of Brookfield in the 4th quarter worth $912,000. Global Retirement Partners LLC grew its position in Brookfield by 18.6% in the fourth quarter. Global Retirement Partners LLC now owns 3,801 shares of the company’s stock worth $218,000 after acquiring an additional 597 shares in the last quarter. Ieq Capital LLC increased its stake in Brookfield by 7.7% in the fourth quarter. Ieq Capital LLC now owns 6,434 shares of the company’s stock valued at $370,000 after acquiring an additional 458 shares during the last quarter. Wealthspire Advisors LLC increased its stake in Brookfield by 4.2% in the fourth quarter. Wealthspire Advisors LLC now owns 10,994 shares of the company’s stock valued at $632,000 after acquiring an additional 444 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Brookfield during the fourth quarter valued at about $57,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.8%

NYSE:BN opened at $60.20 on Thursday. The stock has a market cap of $99.21 billion, a price-to-earnings ratio of 215.00 and a beta of 1.66. The company’s 50 day moving average price is $56.79 and its 200-day moving average price is $56.16. Brookfield Corporation has a 52 week low of $40.61 and a 52 week high of $62.78. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield’s dividend payout ratio is presently 128.57%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BN. JPMorgan Chase & Co. cut their target price on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Scotiabank dropped their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. TD Securities cut their price objective on Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Sunday, June 8th. Finally, CIBC lowered their price target on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.13.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.