Westerkirk Capital Inc. Lowers Stock Holdings in Brookfield Corporation $BN

Westerkirk Capital Inc. reduced its position in Brookfield Corporation (NYSE:BN) by 17.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,260 shares of the company’s stock after selling 12,300 shares during the quarter. Westerkirk Capital Inc.’s holdings in Brookfield were worth $4,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BN. SG Americas Securities LLC boosted its holdings 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 purchasing an additional 172 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Brookfield by 7.1% in the second quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after purchasing an additional 197 shares during the period. Savant Capital LLC raised its position in shares of Brookfield by 6.5% in the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after buying an additional 226 shares in the last quarter. Advisors Capital Management LLC boosted its stake in Brookfield by 3.2% during the second quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock valued at $460,000 after buying an additional 230 shares during the period. Finally, State of Wyoming boosted its stake in Brookfield by 7.8% during the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock valued at $227,000 after buying an additional 240 shares during the period. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BN. Scotiabank reaffirmed an “outperform” rating and issued a $52.00 price target (up previously from $49.00) on shares of Brookfield in a report on Friday, February 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Royal Bank Of Canada lifted their target price 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. TD Securities increased their price target on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Morgan Stanley restated an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Stock Down 0.4%

Shares of BN opened at $45.98 on Friday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. The stock has a 50 day simple moving average of $46.61 and a two-hundred day simple moving average of $45.69. The firm has a market cap of $112.65 billion, a P/E ratio of 93.21 and a beta of 1.57.

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

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is currently 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.