Opal Capital LLC Boosts Stock Position in Brookfield Corporation $BN

Opal Capital LLC increased its holdings in Brookfield Corporation (NYSE:BN) by 2,167.6% during the 1st quarter, Holdings Channel reports. The firm owned 103,379 shares of the company’s stock after buying an additional 98,820 shares during the period. Opal Capital LLC’s holdings in Brookfield were worth $4,184,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Amundi lifted its holdings in Brookfield by 14.1% in the 1st quarter. Amundi now owns 2,696,723 shares of the company’s stock worth $109,136,000 after buying an additional 333,843 shares during the period. Excelsior Advisor Network LLC purchased a new position in shares of Brookfield during the first quarter valued at approximately $235,000. Quantinno Capital Management LP increased its stake in shares of Brookfield by 24.6% during the first quarter. Quantinno Capital Management LP now owns 272,513 shares of the company’s stock valued at $11,027,000 after buying an additional 53,778 shares during the period. Whitebox Advisors LLC bought a new position in shares of Brookfield during the first quarter valued at approximately $3,896,000. Finally, SummitTX Capital L.P. bought a new position in shares of Brookfield during the first quarter valued at approximately $235,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BN shares. TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Royal Bank Of Canada decreased their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Scotia raised their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. TD raised their target price on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. lifted their target price 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. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $56.64.

Brookfield Price Performance

BN stock opened at $42.47 on Wednesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a 50 day moving average price of $44.02 and a 200-day moving average price of $44.23. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The firm has a market capitalization of $104.09 billion, a price-to-earnings ratio of 83.26 and a beta of 1.54.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s payout ratio is presently 54.90%.

Brookfield Company 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.