Carnegie Lake Advisors LLC Acquires 29,119 Shares of Brookfield Corporation $BN

Carnegie Lake Advisors LLC grew its holdings in Brookfield Corporation (NYSE:BN) by 63.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,209 shares of the company’s stock after acquiring an additional 29,119 shares during the quarter. Brookfield accounts for 1.3% of Carnegie Lake Advisors LLC’s portfolio, making the stock its 17th largest holding. Carnegie Lake Advisors LLC’s holdings in Brookfield were worth $3,451,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Foundations Investment Advisors LLC boosted its position in shares of Brookfield by 69.2% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,280 shares of the company’s stock valued at $1,665,000 after acquiring an additional 14,839 shares during the period. IFG Advisory LLC bought a new stake in shares of Brookfield in the fourth quarter valued at approximately $362,000. Huntington National Bank boosted its position in shares of Brookfield by 29.3% in the fourth quarter. Huntington National Bank now owns 10,682 shares of the company’s stock valued at $490,000 after acquiring an additional 2,420 shares during the period. Geode Capital Management LLC boosted its position in shares of Brookfield by 61.0% in the fourth quarter. Geode Capital Management LLC now owns 19,679,423 shares of the company’s stock valued at $913,592,000 after acquiring an additional 7,459,189 shares during the period. Finally, Fidelis Capital Partners LLC boosted its position in shares of Brookfield by 20.5% in the fourth quarter. Fidelis Capital Partners LLC now owns 8,437 shares of the company’s stock valued at $387,000 after acquiring an additional 1,438 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Brookfield stock opened at $46.09 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The stock has a fifty day moving average price of $43.70 and a two-hundred day moving average price of $44.89. Brookfield Corporation has a 52-week low of $37.83 and a 52-week high of $49.56. The firm has a market capitalization of $112.95 billion, a P/E ratio of 90.36 and a beta of 1.55.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend payout ratio is currently 54.90%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BN. JPMorgan Chase & Co. upped their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Morgan Stanley restated an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Scotiabank restated an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, TD Securities restated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

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.