Allen Investment Management LLC Raises Holdings in Brookfield Corporation $BN

Allen Investment Management LLC raised its position in Brookfield Corporation (NYSE:BN) by 56.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,205 shares of the company’s stock after purchasing an additional 26,486 shares during the period. Allen Investment Management LLC’s holdings in Brookfield were worth $3,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at approximately $27,000. Hilltop National Bank boosted its position in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC grew its holdings in shares of Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after purchasing an additional 251 shares during the period. Entrust Financial LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at about $35,000. Finally, ST Germain D J Co. Inc. increased its position in Brookfield by 49.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Brookfield stock opened at $45.36 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 52-week low of $37.83 and a 52-week high of $49.56. The firm has a market cap of $111.16 billion, a PE ratio of 88.94 and a beta of 1.53. The company’s 50 day moving average is $43.95 and its two-hundred day moving average is $44.88.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. TD Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. National Bank Financial raised their target price on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. One 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.