Purpose Unlimited Inc. Acquires New Position in Brookfield Corporation $BN

Purpose Unlimited Inc. acquired a new stake in shares of Brookfield Corporation (NYSE:BN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 332,889 shares of the company’s stock, valued at approximately $15,284,000. Brookfield comprises about 0.7% of Purpose Unlimited Inc.’s investment portfolio, making the stock its 28th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MCF Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at approximately $26,000. Quattro Advisors LLC bought a new position in Brookfield in the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC purchased a new position in Brookfield in the 4th quarter valued at approximately $27,000. Truvestments Capital LLC grew its stake in 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 buying an additional 213 shares in the last quarter. Finally, Hilltop National Bank raised its holdings in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Securities restated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. Scotia lifted their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Scotiabank reiterated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. JPMorgan Chase & Co. increased their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twelve 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 currently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $44.50 on Friday. The firm has a fifty day moving average price of $45.31 and a two-hundred day moving average price of $44.88. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56. The company has a market cap of $109.08 billion, a price-to-earnings ratio of 87.25 and a beta of 1.53.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

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.