Midway Capital Research & Management Takes Position in Brookfield Corporation $BN

Midway Capital Research & Management bought a new position in Brookfield Corporation (NYSE:BN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 115,706 shares of the company’s stock, valued at approximately $5,310,000. Brookfield comprises approximately 5.2% of Midway Capital Research & Management’s holdings, making the stock its 5th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Partners Value Investments L.P. increased its stake in Brookfield by 50.0% in the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after purchasing an additional 60,468,651 shares during the period. Royal Bank of Canada grew its stake in shares of Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after purchasing an additional 32,760,558 shares during the last quarter. Capital World Investors grew its position in shares of Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after buying an additional 30,755,354 shares during the last quarter. Vanguard Group Inc. increased its position in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Brookfield by 27.9% during the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock valued at $2,985,224,000 after buying an additional 14,200,710 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 0.1%

Shares of NYSE BN opened at $44.50 on Friday. The stock has a market capitalization of $109.08 billion, a price-to-earnings ratio of 87.25 and a beta of 1.53. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The firm’s 50-day moving average price is $45.31 and its 200-day moving average price is $44.88. 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 Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

Wall Street Analyst Weigh In

BN has been the subject of several research reports. TD increased their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. TD Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. Scotia increased their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Finally, Scotiabank restated an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target 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.