Louisbourg Investments Inc. Raises Stake in Brookfield Corporation $BN

Louisbourg Investments Inc. grew its position in shares of Brookfield Corporation (NYSE:BN) by 58.5% during the first quarter, Holdings Channel.com reports. The fund owned 264,944 shares of the company’s stock after purchasing an additional 97,796 shares during the quarter. Brookfield comprises 1.9% of Louisbourg Investments Inc.’s portfolio, making the stock its 8th biggest holding. Louisbourg Investments Inc.’s holdings in Brookfield were worth $10,714,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BN. MCF Advisors LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at about $26,000. Quattro Advisors LLC purchased a new stake in Brookfield in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC purchased a new stake in Brookfield in the 4th quarter valued at about $27,000. Truvestments Capital LLC lifted its position in shares of Brookfield by 49.9% during the 4th 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, Hilltop National Bank lifted its position in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. National Bank Financial boosted 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. Royal Bank Of Canada reduced their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Finally, Scotia raised their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Price Performance

Shares of NYSE:BN opened at $42.91 on Friday. The company’s fifty day moving average price is $45.24 and its 200-day moving average price is $44.77. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The firm has a market capitalization of $105.18 billion, a price-to-earnings ratio of 84.14 and a beta of 1.53. Brookfield Corporation has a one year low of $37.93 and a one year high of $49.56.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend payout ratio is presently 54.90%.

About Brookfield

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.