Burkett Asset Management Ltd Makes New Investment in Brookfield Corporation $BN

Burkett Asset Management Ltd acquired a new position in shares of Brookfield Corporation (NYSE:BN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 115,786 shares of the company’s stock, valued at approximately $5,324,000. Brookfield comprises approximately 5.4% of Burkett Asset Management Ltd’s holdings, making the stock its 4th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MCF Advisors LLC acquired a new position in Brookfield during the fourth quarter worth $26,000. Exchange Traded Concepts LLC acquired a new position in Brookfield during the fourth quarter worth $27,000. Hilltop National Bank boosted its stake in Brookfield by 49.9% during the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC boosted its stake in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after buying an additional 251 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in Brookfield during the fourth quarter worth $35,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Up 0.9%

Shares of NYSE:BN opened at $44.99 on Friday. The business has a 50-day moving average price of $44.83 and a 200 day moving average price of $44.92. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $110.27 billion, a price-to-earnings ratio of 88.22 and a beta of 1.53. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56.

Brookfield Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Scotia boosted their price objective on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. 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. TD raised their price objective on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Finally, TD Securities reissued a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. One 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 data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Company 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.