Midway Capital Research & Management Takes $5.31 Million Position in Brookfield Corporation $BN

Midway Capital Research & Management purchased a new position in Brookfield Corporation (NYSE:BN) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 115,706 shares of the company’s stock, valued at approximately $5,310,000. Brookfield comprises approximately 5.2% of Midway Capital Research & Management’s investment portfolio, making the stock its 5th largest position.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC bought a new stake in Brookfield in the 4th quarter valued at $26,000. Quattro Advisors LLC acquired a new position in Brookfield during the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the fourth quarter valued at $27,000. Truvestments Capital LLC grew its position 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 acquiring an additional 213 shares during the period. Finally, Hilltop National Bank increased its stake in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $44.50 on Friday. The business’s 50 day simple moving average is $45.31 and its two-hundred day simple moving average is $44.88. Brookfield Corporation has a 52-week low of $37.93 and a 52-week 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 firm has a market cap of $109.08 billion, a P/E ratio of 87.25 and a beta of 1.53.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s payout ratio is 54.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BN shares. Royal Bank Of Canada dropped their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Scotiabank restated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. TD upped their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

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.