SmartHarvest Portfolios LLC Invests $669,000 in Brookfield Corporation $BN

SmartHarvest Portfolios LLC acquired a new stake in Brookfield Corporation (NYSE:BN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 14,578 shares of the company’s stock, valued at approximately $669,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BN. MCF Advisors LLC bought a new stake in Brookfield during the fourth quarter worth $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the 4th quarter valued at about $27,000. Hilltop National Bank grew its position in shares of Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the period. New England Capital Financial Advisors LLC increased its stake in shares of Brookfield by 50.2% during 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. Finally, Entrust Financial LLC bought a new stake in shares of Brookfield in the 4th quarter valued at about $35,000. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BN shares. National Bank Financial raised their target price on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Scotiabank restated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. TD Securities reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. TD lifted their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Finally, Morgan Stanley reissued an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Stock Performance

Shares of BN stock opened at $44.99 on Friday. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a market capitalization of $110.27 billion, a price-to-earnings ratio of 88.22 and a beta of 1.53. The company has a 50-day simple moving average of $44.83 and a 200 day simple moving average of $44.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32.

Brookfield Dividend Announcement

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 dividend of $0.07 per share. 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 payout ratio is currently 54.90%.

Brookfield 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.