Brookfield Corporation $BN Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in Brookfield Corporation (NYSE:BN) by 20.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 89,449 shares of the company’s stock after selling 23,670 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Brookfield were worth $6,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tred Avon Family Wealth LLC acquired a new stake in shares of Brookfield during the 3rd quarter worth approximately $397,000. Maryland State Retirement & Pension System increased its stake in Brookfield by 23.0% during the third quarter. Maryland State Retirement & Pension System now owns 158,254 shares of the company’s stock worth $10,839,000 after acquiring an additional 29,544 shares during the last quarter. Gold Investment Management Ltd. lifted its stake in shares of Brookfield by 0.7% in the 3rd quarter. Gold Investment Management Ltd. now owns 99,872 shares of the company’s stock valued at $6,854,000 after purchasing an additional 648 shares during the last quarter. SOL Capital Management CO lifted its stake in shares of Brookfield by 0.6% in the 3rd quarter. SOL Capital Management CO now owns 57,843 shares of the company’s stock valued at $3,967,000 after purchasing an additional 345 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new stake in Brookfield in the 3rd quarter valued at about $255,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $47.17 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average price of $46.28 and a 200 day moving average price of $45.36. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. The company has a market cap of $116.82 billion, a P/E ratio of 131.01 and a beta of 1.58.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. TD Securities lifted their price objective on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. BMO Capital Markets reiterated an “outperform” rating and set a $49.00 target price (up previously from $46.00) on shares of Brookfield in a research note on Wednesday, December 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $53.87.

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.