Amitell Capital Pte Ltd Acquires Shares of 36,572 Brookfield Corporation $BN

Amitell Capital Pte Ltd bought a new stake in Brookfield Corporation (NYSE:BN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 36,572 shares of the company’s stock, valued at approximately $2,508,000. Brookfield comprises approximately 1.5% of Amitell Capital Pte Ltd’s portfolio, making the stock its 26th biggest position.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Brookfield during the 2nd quarter valued at $1,040,160,000. Lone Pine Capital LLC bought a new position in shares of Brookfield during the 2nd quarter valued at about $347,683,000. Canada Pension Plan Investment Board boosted its stake in shares of Brookfield by 132.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after purchasing an additional 3,727,628 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Brookfield in the second quarter worth about $140,555,000. Finally, Geode Capital Management LLC boosted its stake in shares of Brookfield by 19.4% during the second quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock valued at $679,852,000 after purchasing an additional 1,770,378 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BN. BMO Capital Markets upped their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. TD Securities raised their price target on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, Scotiabank restated an “outperform” rating and issued a $52.00 price target (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. One research analyst has 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. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus price target of $54.59.

Brookfield Price Performance

Shares of BN stock opened at $45.56 on Thursday. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The stock’s 50-day moving average is $46.61 and its 200 day moving average is $45.71. 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 company has a market cap of $111.62 billion, a P/E ratio of 92.36 and a beta of 1.57.

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

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield’s dividend payout ratio is presently 48.98%.

Brookfield 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.