TD Waterhouse Canada Inc. Increases Stock Holdings in Brookfield Corporation $BN

TD Waterhouse Canada Inc. lifted its position in shares of Brookfield Corporation (NYSE:BN) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,671,254 shares of the company’s stock after buying an additional 165,135 shares during the quarter. Brookfield makes up about 1.6% of TD Waterhouse Canada Inc.’s holdings, making the stock its 12th largest position. TD Waterhouse Canada Inc. owned about 0.22% of Brookfield worth $227,081,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. GAMMA Investing LLC grew its position in shares of Brookfield by 7.4% in the second quarter. GAMMA Investing LLC now owns 2,451 shares of the company’s stock valued at $152,000 after purchasing an additional 169 shares during the last quarter. SG Americas Securities LLC lifted its stake in Brookfield by 4.1% in the 2nd quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock valued at $268,000 after buying an additional 172 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in Brookfield by 7.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock valued at $183,000 after buying an additional 197 shares during the last quarter. Chicago Capital LLC grew its holdings in Brookfield by 0.4% during the 2nd quarter. Chicago Capital LLC now owns 56,563 shares of the company’s stock valued at $3,498,000 after buying an additional 200 shares during the last quarter. Finally, Rochester Wealth Strategies LLC increased its position in Brookfield by 3.0% during the second quarter. Rochester Wealth Strategies LLC now owns 7,825 shares of the company’s stock worth $484,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Scotiabank raised their price target on shares of Brookfield from $46.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a report on Monday, October 13th. CIBC reissued an “outperform” rating and set a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a research note on Friday. Finally, National Bankshares set a $54.67 target price on shares of Brookfield and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Brookfield has a consensus rating of “Buy” and a consensus price target of $53.47.

Brookfield Trading Up 0.8%

Shares of BN stock opened at $43.35 on Wednesday. The firm’s 50-day simple moving average is $45.62 and its 200-day simple moving average is $43.01. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.47. The firm has a market cap of $107.29 billion, a P/E ratio of 151.23 and a beta of 1.73.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, equities analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is 66.67%.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.