Oak Grove Capital LLC Acquires 176,136 Shares of Brookfield Corporation $BN

Oak Grove Capital LLC grew its holdings in Brookfield Corporation (NYSE:BN) by 65.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 444,411 shares of the company’s stock after purchasing an additional 176,136 shares during the period. Brookfield makes up about 2.4% of Oak Grove Capital LLC’s portfolio, making the stock its 9th biggest position. Oak Grove Capital LLC’s holdings in Brookfield were worth $20,394,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MCF Advisors LLC bought a new position in Brookfield in the fourth quarter valued at about $26,000. Quattro Advisors LLC bought a new position in shares of Brookfield in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the fourth quarter worth about $27,000. Truvestments Capital LLC boosted its stake in shares of Brookfield by 49.9% in the 4th 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 stake in shares of Brookfield by 49.9% in the 4th 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. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

BN has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. TD upped their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Scotiabank reiterated an “outperform” rating and issued a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Morgan Stanley reissued an “overweight” rating and set a $61.00 price objective (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Down 0.5%

Shares of NYSE:BN opened at $44.50 on Friday. The firm has a market cap of $109.08 billion, a P/E ratio of 87.25 and a beta of 1.53. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The business has a fifty day simple moving average of $45.26 and a 200 day simple moving average of $44.88.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is presently 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.