Scotia Capital Inc. Boosts Position in Brookfield Corporation (NYSE:BN)

Scotia Capital Inc. grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 1.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 6,946,261 shares of the company’s stock after acquiring an additional 89,081 shares during the quarter. Brookfield comprises 1.9% of Scotia Capital Inc.’s portfolio, making the stock its 12th largest holding. Scotia Capital Inc.’s holdings in Brookfield were worth $362,526,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. LGT Capital Partners LTD. increased its stake in shares of Brookfield by 0.8% during the first quarter. LGT Capital Partners LTD. now owns 730,000 shares of the company’s stock valued at $38,202,000 after buying an additional 6,000 shares during the period. Malaga Cove Capital LLC increased its stake in shares of Brookfield by 185.7% during the first quarter. Malaga Cove Capital LLC now owns 10,881 shares of the company’s stock valued at $570,000 after buying an additional 7,072 shares during the period. Banco Santander S.A. purchased a new position in shares of Brookfield during the first quarter valued at approximately $509,000. PNC Financial Services Group Inc. increased its stake in shares of Brookfield by 7.7% during the first quarter. PNC Financial Services Group Inc. now owns 178,082 shares of the company’s stock valued at $9,333,000 after buying an additional 12,666 shares during the period. Finally, TIAA Trust National Association increased its stake in shares of Brookfield by 8.3% during the first quarter. TIAA Trust National Association now owns 23,021 shares of the company’s stock valued at $1,207,000 after buying an additional 1,762 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 2.6%

Brookfield stock opened at $65.32 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The business’s fifty day simple moving average is $62.02 and its two-hundred day simple moving average is $57.54. Brookfield Corporation has a 12 month low of $42.21 and a 12 month high of $68.75. The company has a market capitalization of $107.70 billion, a price-to-earnings ratio of 233.29 and a beta of 1.70.

Brookfield (NYSE:BN) last released its earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

BN has been the topic of several research analyst reports. CIBC reduced their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. Wall Street Zen lowered Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. dropped their price target on Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, Scotiabank restated an “outperform” rating and set a $75.00 price target (up from $69.00) on shares of Brookfield in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

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.