Brookfield Corporation $BN Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Brookfield Corporation (NYSE:BN) by 22.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,572,428 shares of the company’s stock after acquiring an additional 1,186,839 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Brookfield worth $450,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Brookfield during the second quarter valued at $32,000. Cary Street Partners Investment Advisory LLC grew its position in Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp acquired a new stake in Brookfield during the 3rd quarter worth about $40,000. Versant Capital Management Inc raised its stake in shares of Brookfield by 507.5% during the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after buying an additional 543 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new position in shares of Brookfield in the 2nd quarter valued at about $63,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN stock opened at $39.70 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The business’s 50 day moving average is $45.22 and its two-hundred day moving average is $45.54. The company has a market capitalization of $97.25 billion, a P/E ratio of 80.47 and a beta of 1.58.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.87% and a net margin of 1.74%.The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio (DPR) is 48.98%.

Analyst Upgrades and Downgrades

BN has been the topic of a number of recent research reports. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Scotiabank reissued an “outperform” rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a report on Friday, February 13th. Royal Bank Of Canada upped their price objective on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. National Bank Financial boosted their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, BMO Capital Markets raised their price target on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.59.

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.