Alberta Investment Management Corp Purchases New Shares in Brookfield Corporation $BN

Alberta Investment Management Corp purchased a new stake in shares of Brookfield Corporation (NYSE:BN) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,464,602 shares of the company’s stock, valued at approximately $159,079,000.

Other hedge funds also recently made changes to their positions in the company. MCF Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $26,000. Quattro Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $27,000. Truvestments Capital LLC boosted its position in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Finally, Hilltop National Bank boosted its position in shares of Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BN shares. National Bank Financial lifted their price objective on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price objective on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lowered their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Finally, TD lifted their price objective on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Stock Up 1.1%

BN stock opened at $45.70 on Tuesday. The stock has a market capitalization of $112.01 billion, a P/E ratio of 89.61 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The business has a fifty day moving average price of $45.02 and a 200-day moving average price of $44.92.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend 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.