Canal Capital Management LLC Acquires 91,976 Shares of Brookfield Corporation $BN

Canal Capital Management LLC increased its stake in shares of Brookfield Corporation (NYSE:BN) by 2,221.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,116 shares of the company’s stock after buying an additional 91,976 shares during the period. Canal Capital Management LLC’s holdings in Brookfield were worth $4,411,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in Brookfield in the 2nd quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares in the last quarter. First Horizon Corp acquired a new position in shares of Brookfield during the third quarter worth approximately $40,000. Versant Capital Management Inc grew its stake in shares of Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after purchasing an additional 543 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Brookfield in the second quarter valued at approximately $63,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.3%

Shares of NYSE BN opened at $39.12 on Friday. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.56. The firm has a market capitalization of $95.83 billion, a P/E ratio of 79.29 and a beta of 1.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. The company’s 50 day simple moving average is $44.90 and its 200 day simple moving average is $45.45.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. On average, analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Tuesday, March 17th. Brookfield’s payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BN. Morgan Stanley restated an “overweight” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. National Bank Financial lifted their target price on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.59.

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.