Scotia Capital Inc. Purchases 280,062 Shares of Brookfield Corporation $BN

Scotia Capital Inc. increased its position in shares of Brookfield Corporation (NYSE:BN) by 4.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,226,323 shares of the company’s stock after buying an additional 280,062 shares during the quarter. Brookfield accounts for about 2.1% of Scotia Capital Inc.’s portfolio, making the stock its 11th biggest holding. Scotia Capital Inc. owned about 0.44% of Brookfield worth $446,217,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BN. Hilltop National Bank bought a new position in shares of Brookfield during the 2nd quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in Brookfield during the second quarter worth $33,000. Financial Gravity Companies Inc. bought a new position in Brookfield in the second quarter valued at $51,000. Brooklyn Investment Group acquired a new stake in Brookfield in the 1st quarter valued at $54,000. Finally, SouthState Corp lifted its position in Brookfield by 734.8% during the 1st quarter. SouthState Corp now owns 1,127 shares of the company’s stock worth $59,000 after buying an additional 992 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

BN has been the subject of several analyst reports. CIBC restated an “outperform” rating and issued a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. Zacks Research cut Brookfield from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. TD Securities raised their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. upped their price objective on Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley set a $54.00 price objective on Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.47.

Brookfield Price Performance

Shares of NYSE BN opened at $46.60 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The business’s 50 day moving average price is $45.51 and its two-hundred day moving average price is $43.32. The company has a market cap of $115.34 billion, a PE ratio of 162.58 and a beta of 1.73. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.47.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a return on equity of 3.77% and a net margin of 1.11%. On average, analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s payout ratio is 66.67%.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.