Gabelli Funds LLC Purchases 29,900 Shares of Brookfield Corporation $BN

Gabelli Funds LLC lifted its position in Brookfield Corporation (NYSE:BN) by 50.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 89,700 shares of the company’s stock after buying an additional 29,900 shares during the quarter. Gabelli Funds LLC’s holdings in Brookfield were worth $4,116,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BN. Savant Capital LLC lifted its holdings in Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after purchasing an additional 226 shares during the last quarter. State of Wyoming lifted its holdings in Brookfield by 7.8% in the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after purchasing an additional 240 shares during the last quarter. Hilltop National Bank lifted its holdings in Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Cary Street Partners Investment Advisory LLC lifted its holdings in Brookfield by 38.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after purchasing an additional 243 shares during the last quarter. Finally, New England Capital Financial Advisors LLC lifted its holdings in Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN stock opened at $45.41 on Friday. The stock has a 50 day moving average of $43.06 and a two-hundred day moving average of $44.89. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12 month low of $37.54 and a 12 month high of $49.56. The company has a market capitalization of $111.29 billion, a P/E ratio of 89.04 and a beta of 1.55.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BN shares. BMO Capital Markets boosted their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. TD boosted their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Scotia boosted their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Company 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.