Mufg Securities Canada LTD. Reduces Position in Brookfield Corporation $BN

Mufg Securities Canada LTD. trimmed its holdings in Brookfield Corporation (NYSE:BN) by 7.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,022,165 shares of the company’s stock after selling 247,113 shares during the quarter. Brookfield makes up 3.4% of Mufg Securities Canada LTD.’s holdings, making the stock its 11th biggest holding. Mufg Securities Canada LTD.’s holdings in Brookfield were worth $128,735,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Partners Value Investments L.P. grew its stake in Brookfield by 50.0% during the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after acquiring an additional 60,468,651 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Brookfield by 40.5% during the 4th 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 fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after purchasing an additional 30,755,354 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield by 27.9% during the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after buying an additional 14,200,710 shares in the last quarter. Finally, BROOKFIELD Corp ON boosted its stake in Brookfield by 50.2% during the fourth quarter. BROOKFIELD Corp ON now owns 46,581,943 shares of the company’s stock worth $2,137,645,000 after buying an additional 15,574,559 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on BN shares. Scotia raised their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Royal Bank Of Canada dropped their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Brookfield currently has an average rating of “Buy” and a consensus target price of $56.91.

Brookfield Stock Down 0.3%

Shares of BN opened at $41.19 on Tuesday. The firm has a market cap of $100.99 billion, a P/E ratio of 74.89 and a beta of 1.54. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company’s 50-day moving average price is $42.95 and its 200 day moving average price is $43.60. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. On average, sell-side analysts forecast that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is 50.91%.

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.