Alberta Investment Management Corp Invests $159.08 Million in Brookfield Corporation $BN

Alberta Investment Management Corp purchased a new position in shares of Brookfield Corporation (NYSE:BN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,464,602 shares of the company’s stock, valued at approximately $159,079,000. Alberta Investment Management Corp owned 0.14% of Brookfield as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC bought a new position in shares of Brookfield during the 4th quarter worth $26,000. Quattro Advisors LLC purchased a new stake in shares of Brookfield in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Brookfield in the 4th quarter valued at about $27,000. Truvestments Capital LLC raised its holdings in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Finally, Hilltop National Bank raised its holdings 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 buying an additional 241 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN stock opened at $45.70 on Tuesday. The firm has a market cap of $112.01 billion, a P/E ratio of 89.61 and a beta of 1.53. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The business’s 50 day moving average price is $45.02 and its 200-day moving average price is $44.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32.

Brookfield Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BN shares. TD raised their price objective on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Royal Bank Of Canada cut their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. TD Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Finally, National Bank Financial lifted their price objective on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

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.