Archon Partners LLC Acquires New Shares in Brookfield Corporation $BN

Archon Partners LLC purchased a new stake in shares of Brookfield Corporation (NYSE:BN) during the 1st quarter, Holdings Channel reports. The fund purchased 135,000 shares of the company’s stock, valued at approximately $5,463,000.

A number of other institutional investors have also added to or reduced their stakes in BN. MCF Advisors LLC bought a new position in Brookfield in the 4th quarter valued at approximately $26,000. Quattro Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter worth $26,000. Exchange Traded Concepts LLC bought a new stake in shares of Brookfield during the fourth quarter worth $27,000. Truvestments Capital LLC increased its holdings in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after buying an additional 213 shares in the last quarter. Finally, New England Capital Financial Advisors LLC increased its holdings in shares of 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 in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Scotia upped their price objective on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday. Finally, TD Securities reiterated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.64.

Brookfield Stock Up 1.2%

Brookfield stock opened at $41.69 on Friday. The company has a market capitalization of $102.18 billion, a PE ratio of 81.74 and a beta of 1.54. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The firm’s fifty day moving average is $44.12 and its 200 day moving average is $44.34. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

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.