Brookfield Corporation $BN Position Trimmed by Guardian Partners Inc.

Guardian Partners Inc. decreased its holdings in Brookfield Corporation (NYSE:BN) by 4.2% during the first quarter, Holdings Channel.com reports. The firm owned 508,806 shares of the company’s stock after selling 22,089 shares during the period. Brookfield comprises about 1.7% of Guardian Partners Inc.’s portfolio, making the stock its 15th biggest holding. Guardian Partners Inc.’s holdings in Brookfield were worth $20,701,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Partners Value Investments L.P. grew its position in Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after purchasing an additional 60,468,651 shares in the last quarter. Royal Bank of Canada lifted its position in Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after buying an additional 32,760,558 shares in the last quarter. Capital World Investors lifted its position in Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after buying an additional 30,755,354 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after buying an additional 14,200,710 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

BN stock opened at $42.47 on Wednesday. The firm has a 50 day moving average of $44.02 and a two-hundred day moving average of $44.23. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a market capitalization of $104.09 billion, a price-to-earnings ratio of 83.26 and a beta of 1.54. 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 Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BN shares. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. TD Securities reissued a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.64.

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.