TD Waterhouse Canada Inc. Buys 248,479 Shares of Brookfield Corporation $BN

TD Waterhouse Canada Inc. boosted its stake in shares of Brookfield Corporation (NYSE:BN) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 13,903,270 shares of the company’s stock after buying an additional 248,479 shares during the period. Brookfield makes up approximately 1.6% of TD Waterhouse Canada Inc.’s holdings, making the stock its 15th largest holding. TD Waterhouse Canada Inc.’s holdings in Brookfield were worth $595,676,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Partners Value Investments L.P. increased its position in Brookfield by 50.0% during the fourth 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 during the last quarter. Dodge & Cox purchased a new position in shares of Brookfield during the 4th quarter worth about $1,894,354,000. Royal Bank of Canada grew its holdings in Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after purchasing an additional 32,760,558 shares during the last quarter. Capital World Investors raised its position in Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after purchasing an additional 30,755,354 shares during the period. Finally, Norges Bank bought a new stake in Brookfield in the fourth quarter worth about $1,227,555,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD upped their target price on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. National Bank Financial upped their target price on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, TD Securities reissued a “buy” rating and issued a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Stock Up 1.8%

Shares of BN stock opened at $40.43 on Friday. The stock’s fifty day moving average price is $42.76 and its 200 day moving average price is $43.44. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The company has a market cap of $99.13 billion, a price-to-earnings ratio of 73.51 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN) last issued its quarterly 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 return on equity of 3.93% and a net margin of 1.85%.The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, research analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

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

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.