Oak Grove Capital LLC Boosts Stock Holdings in Brookfield Corporation $BN

Oak Grove Capital LLC grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 12.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 268,275 shares of the company’s stock after purchasing an additional 30,335 shares during the period. Brookfield makes up approximately 2.6% of Oak Grove Capital LLC’s holdings, making the stock its 9th largest position. Oak Grove Capital LLC’s holdings in Brookfield were worth $18,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triasima Portfolio Management inc. raised its position in shares of Brookfield by 9.0% in the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock worth $19,825,000 after purchasing an additional 23,923 shares during the last quarter. Principal Financial Group Inc. increased its stake in Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after purchasing an additional 799,440 shares in the last quarter. Citigroup Inc. raised its holdings in Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after buying an additional 221,078 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Brookfield by 777.8% in the third quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company’s stock worth $3,139,000 after buying an additional 40,562 shares in the last quarter. Finally, Eldred Rock Partners LLC grew its holdings in shares of Brookfield by 12.0% during the third quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company’s stock valued at $21,744,000 after buying an additional 34,008 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

BN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. BMO Capital Markets upped their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $52.00 price target (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Finally, Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Stock Performance

Shares of NYSE BN opened at $43.94 on Tuesday. 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 firm has a market capitalization of $107.64 billion, a price-to-earnings ratio of 89.07 and a beta of 1.57. The firm has a 50 day moving average of $46.55 and a 200 day moving average of $45.74.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. On average, research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is presently 57.14%.

About Brookfield

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.