Triasima Portfolio Management inc. Boosts Stock Position in Brookfield Corporation $BN

Triasima Portfolio Management inc. increased its position in Brookfield Corporation (NYSE:BN) by 9.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 288,866 shares of the company’s stock after acquiring an additional 23,923 shares during the period. Brookfield makes up about 3.0% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 4th largest position. Triasima Portfolio Management inc.’s holdings in Brookfield were worth $19,825,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Eldred Rock Partners LLC raised its holdings in shares of Brookfield by 12.0% in the 3rd quarter. Eldred Rock Partners LLC now owns 317,056 shares of the company’s stock worth $21,744,000 after purchasing an additional 34,008 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Brookfield by 777.8% in the third quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company’s stock valued at $3,139,000 after buying an additional 40,562 shares in the last quarter. Creative Planning lifted its position in shares of Brookfield by 10.1% during the 2nd quarter. Creative Planning now owns 487,077 shares of the company’s stock valued at $30,126,000 after acquiring an additional 44,822 shares during the last quarter. AGF Management Ltd. boosted its stake in shares of Brookfield by 7.2% during the 2nd quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock worth $151,399,000 after acquiring an additional 164,124 shares in the last quarter. Finally, Lone Pine Capital LLC acquired a new position in shares of Brookfield in the 2nd quarter worth $347,683,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BN has been the subject of several analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 price objective (up from $46.00) on shares of Brookfield in a research note on Wednesday, December 17th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Thursday, December 11th. Morgan Stanley set a $54.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.87.

Brookfield Stock Performance

Shares of BN opened at $46.46 on Tuesday. The company has a market capitalization of $115.07 billion, a PE ratio of 129.06 and a beta of 1.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The company’s 50 day moving average price is $46.18 and its 200 day moving average price is $45.24. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Brookfield’s payout ratio is 66.67%.

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.