Waterfront Wealth Inc. Has $7.63 Million Stock Holdings in Brookfield Corporation $BN

Waterfront Wealth Inc. grew its holdings in Brookfield Corporation (NYSE:BN) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 111,228 shares of the company’s stock after purchasing an additional 36,999 shares during the period. Brookfield makes up about 1.6% of Waterfront Wealth Inc.’s portfolio, making the stock its 14th biggest position. Waterfront Wealth Inc.’s holdings in Brookfield were worth $7,628,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of BN. Norges Bank acquired a new position in Brookfield during the second quarter worth about $1,040,160,000. Lone Pine Capital LLC bought a new stake in shares of Brookfield during the 2nd quarter valued at approximately $347,683,000. Canada Pension Plan Investment Board increased its position in Brookfield by 132.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock worth $405,065,000 after purchasing an additional 3,727,628 shares in the last quarter. Picton Mahoney Asset Management bought a new position in Brookfield in the 2nd quarter valued at approximately $140,555,000. Finally, Geode Capital Management LLC boosted its position in Brookfield by 19.4% in the second quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock valued at $679,852,000 after buying an additional 1,770,378 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Shares of BN opened at $45.22 on Monday. The firm has a market cap of $112.00 billion, a PE ratio of 125.61 and a beta of 1.57. The business’s 50 day moving average price is $46.48 and its two-hundred day moving average price is $45.52. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. On average, equities analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BN shares. TD Securities upped their price target on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. National Bankshares increased their target price on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $52.00 price objective (up previously from $50.67) on shares of Brookfield in a report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $54.70.

About Brookfield

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.