Ellevest Inc. Invests $287,000 in Brookfield Corporation $BN

Ellevest Inc. bought a new stake in Brookfield Corporation (NYSE:BN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,647 shares of the company’s stock, valued at approximately $287,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pershing Square Capital Management L.P. boosted its stake in Brookfield by 17.5% during the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after buying an additional 6,111,593 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Brookfield by 83.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock worth $403,514,000 after acquiring an additional 3,500,003 shares during the period. Regents of The University of California boosted its position in shares of Brookfield by 123.1% during the 1st quarter. Regents of The University of California now owns 5,986,137 shares of the company’s stock valued at $313,733,000 after acquiring an additional 3,303,102 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of Brookfield by 31.0% during the 1st quarter. Baillie Gifford & Co. now owns 4,816,082 shares of the company’s stock valued at $252,411,000 after acquiring an additional 1,140,558 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Brookfield by 1.6% in the first quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock worth $3,186,707,000 after purchasing an additional 988,419 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Down 0.4%

BN stock opened at $45.71 on Friday. The business has a fifty day moving average price of $45.50 and a 200 day moving average price of $42.35. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47. The stock has a market capitalization of $113.13 billion, a price-to-earnings ratio of 159.46 and a beta of 1.73.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 7th. The company reported $0.59 EPS for the quarter, hitting the consensus estimate of $0.59. Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.44 billion. Analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BN. BMO Capital Markets lifted their price objective on Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Cowen reaffirmed a “buy” rating on shares of Brookfield in a research note on Friday, August 8th. National Bankshares set a $54.67 price target on Brookfield and gave the company an “outperform” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. lifted their price objective on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a report on Friday, October 3rd. Finally, National Bank Financial began coverage on shares of Brookfield in a research note on Tuesday, July 29th. They issued an “outperform” rating and a $54.67 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $52.63.

About Brookfield

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.