Eldred Rock Partners LLC Boosts Stock Position in Brookfield Corporation $BN

Eldred Rock Partners LLC grew its position in shares of Brookfield Corporation (NYSE:BN) by 33.6% during the fourth quarter, Holdings Channel reports. The fund owned 423,659 shares of the company’s stock after purchasing an additional 106,603 shares during the period. Brookfield makes up about 5.0% of Eldred Rock Partners LLC’s holdings, making the stock its 3rd biggest holding. Eldred Rock Partners LLC’s holdings in Brookfield were worth $19,443,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC bought a new stake in shares of Brookfield during the fourth quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC bought a new position in Brookfield in the second quarter worth $32,000. Hilltop National Bank lifted its position in Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after buying an additional 241 shares during the period. Cary Street Partners Investment Advisory LLC lifted its position in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares during the period. Finally, First Horizon Corp bought a new stake in shares of Brookfield during the 3rd quarter valued at $40,000. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. National Bank Financial boosted their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Morgan Stanley restated an “overweight” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. Scotiabank decreased their target price on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research note on Wednesday, March 25th. Finally, Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.20.

Brookfield Price Performance

BN opened at $40.93 on Friday. The firm has a market cap of $100.30 billion, a PE ratio of 82.96 and a beta of 1.56. The stock has a 50-day moving average price of $43.41 and a 200-day moving average price of $45.11. 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 1.51, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Sell-side analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a dividend of $0.07 per share. The ex-dividend date was Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is currently 57.14%.

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.