Westerkirk Capital Inc. Invests $4.49 Million in Brookfield Corporation $BN

Westerkirk Capital Inc. purchased a new stake in shares of Brookfield Corporation (NYSE:BN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 72,560 shares of the company’s stock, valued at approximately $4,488,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in shares of Brookfield by 66.4% in the 2nd quarter. Fisher Asset Management LLC now owns 22,447 shares of the company’s stock worth $1,388,000 after purchasing an additional 8,954 shares in the last quarter. River Road Asset Management LLC purchased a new stake in shares of Brookfield during the second quarter valued at $30,435,000. Dixon Mitchell Investment Counsel Inc. increased its holdings in Brookfield by 2.3% in the 2nd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,711,455 shares of the company’s stock worth $105,710,000 after buying an additional 37,754 shares in the last quarter. GoodHaven Capital Management LLC raised its position in Brookfield by 3.1% in the 2nd quarter. GoodHaven Capital Management LLC now owns 225,873 shares of the company’s stock worth $13,970,000 after buying an additional 6,750 shares during the last quarter. Finally, West Family Investments Inc. lifted its stake in Brookfield by 70.7% during the 2nd quarter. West Family Investments Inc. now owns 6,873 shares of the company’s stock valued at $425,000 after acquiring an additional 2,847 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

NYSE BN opened at $46.36 on Tuesday. The business’s fifty day moving average is $45.45 and its 200 day moving average is $43.47. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. The company has a market capitalization of $114.73 billion, a PE ratio of 161.71 and a beta of 1.73.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Sell-side analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.24 annualized dividend and a yield of 0.5%. Brookfield’s payout ratio is currently 66.67%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Zacks Research lowered shares of Brookfield from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Wall Street Zen cut Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Cowen reaffirmed a “buy” rating on shares of Brookfield in a report on Friday, August 8th. Morgan Stanley set a $54.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Finally, CIBC reissued an “outperform” rating and issued a $52.00 target price (up from $50.67) on shares of Brookfield in a research report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $53.47.

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.