Norges Bank Purchases New Shares in Brookfield Corporation $BN

Norges Bank purchased a new stake in shares of Brookfield Corporation (NYSE:BN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 26,740,100 shares of the company’s stock, valued at approximately $1,227,555,000. Norges Bank owned approximately 1.08% of Brookfield at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Chemistry Wealth Management LLC grew its holdings in Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after acquiring an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. grew its holdings in Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after acquiring an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co grew its holdings in Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after acquiring an additional 387,068 shares in the last quarter. Citigroup Inc. grew its holdings in Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after acquiring an additional 221,078 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Down 1.1%

NYSE BN opened at $45.60 on Friday. Brookfield Corporation has a one year low of $37.83 and a one year high of $49.56. 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 company has a 50-day simple moving average of $43.83 and a 200-day simple moving average of $44.90. The firm has a market capitalization of $111.74 billion, a PE ratio of 89.40 and a beta of 1.55.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield’s payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BN shares. 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. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Scotia raised their price objective on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. BMO Capital Markets raised their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, TD lifted their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.82.

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.