Brookfield Corporation $BN Shares Acquired by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC lifted its position in Brookfield Corporation (NYSE:BN) by 53.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 241,119 shares of the company’s stock after buying an additional 84,229 shares during the quarter. Brookfield accounts for approximately 2.1% of Blue Zone Wealth Advisors LLC’s portfolio, making the stock its 8th biggest position. Blue Zone Wealth Advisors LLC’s holdings in Brookfield were worth $11,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC acquired a new position in Brookfield in the 4th quarter valued at about $27,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Brookfield during the second quarter worth about $32,000. Hilltop National Bank boosted its stake in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Brookfield in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN stock opened at $40.93 on Monday. The company has a market cap of $100.30 billion, a P/E ratio of 82.96 and a beta of 1.56. The firm has a fifty day moving average price of $43.29 and a 200 day moving average price of $45.06. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. Brookfield Corporation has a 12 month low of $29.07 and a 12 month high of $49.56.

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

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is 57.14%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BN. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research upgraded shares of Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. National Bank Financial increased their price objective on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.20.

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.