Evercore Wealth Management LLC Lowers Stock Holdings in Brookfield Corporation $BN

Evercore Wealth Management LLC lowered its position in Brookfield Corporation (NYSE:BN) by 37.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,747 shares of the company’s stock after selling 14,750 shares during the period. Evercore Wealth Management LLC’s holdings in Brookfield were worth $1,002,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. MCF Advisors LLC bought a new stake in Brookfield during the fourth quarter valued at about $26,000. Quattro Advisors LLC bought a new position in shares of Brookfield in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC bought a new position in shares of Brookfield in the fourth quarter worth about $27,000. Truvestments Capital LLC grew its position in shares of Brookfield by 49.9% during the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Finally, New England Capital Financial Advisors LLC grew its position in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BN. Royal Bank Of Canada lowered their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. National Bank Financial increased their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.64.

Brookfield Trading Up 0.9%

Shares of BN stock opened at $42.47 on Wednesday. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The stock’s 50-day moving average price is $44.02 and its 200-day moving average price is $44.23. The stock has a market capitalization of $104.09 billion, a price-to-earnings ratio of 83.26 and a beta of 1.54.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is currently 54.90%.

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.