Brookfield Corporation $BN Shares Purchased by Engineers Gate Manager LP

by · The Cerbat Gem

Engineers Gate Manager LP increased its position in Brookfield Corporation (NYSE:BN – Free Report) by 388.8% in the second quarter, HoldingsChannel.com reports. The fund owned 42,209 shares of the company’s stock after buying an additional 33,573 shares during the period. Engineers Gate Manager LP’s holdings in Brookfield were worth $1,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Brookfield during the 4th quarter valued at about $26,000. Entrust Financial LLC acquired a new position in shares of Brookfield in the fourth quarter valued at about $35,000. Delta Asset Management LLC TN raised its stake in shares of Brookfield by 49.8% in the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company’s stock worth $43,000 after purchasing an additional 311 shares during the last quarter. Commonwealth Retirement Investments LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $44,000. Finally, Seneschal Advisors LLC lifted its holdings in shares of Brookfield by 49.9% during the fourth quarter. Seneschal Advisors LLC now owns 1,012 shares of the company’s stock worth $46,000 after purchasing an additional 337 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 1.3%

Shares of BN stock opened at $37.12 on Wednesday. The stock has a 50 day moving average of $42.04 and a 200 day moving average of $43.01. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The stock has a market cap of $91.00 billion, a P/E ratio of 67.48 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.02 and a twelve month high of $49.56.

Brookfield (NYSE:BN – Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, sell-side analysts expect that Brookfield Corporation will post 2.93 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, September 14th. Brookfield’s payout ratio is currently 50.91%.

Analysts Set New Price Targets

Several analysts have commented on BN shares. TD Securities restated a “buy” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday, May 19th. TD increased their price objective on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Scotia raised their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $57.40.

Get Our Latest Stock Report on Brookfield

About Brookfield

(Free Report)

Brookfield Corporation (NYSE: BN) is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.

See Also

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