Brookfield Co. (NYSE:BN) Shares Acquired by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Brookfield Co. (NYSE:BN) by 36.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 632,467 shares of the company’s stock after purchasing an additional 169,342 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brookfield were worth $36,305,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BN. Strategic Wealth Partners Ltd. boosted its stake in shares of Brookfield by 1.7% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company’s stock valued at $618,000 after purchasing an additional 170 shares during the period. Haverford Trust Co boosted its position in Brookfield by 4.7% in the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock valued at $247,000 after buying an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Brookfield by 1.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock valued at $955,000 after buying an additional 197 shares during the last quarter. Pittenger & Anderson Inc. grew its stake in shares of Brookfield by 14.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after acquiring an additional 203 shares in the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of Brookfield by 5.8% during the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock worth $250,000 after acquiring an additional 240 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BN. CIBC reduced their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. Morgan Stanley reduced their price target on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. TD Securities lowered their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their target price on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Scotiabank decreased their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Brookfield Price Performance

NYSE:BN opened at $59.03 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a one year low of $39.97 and a one year high of $62.78. The company has a fifty day moving average price of $52.85 and a 200 day moving average price of $56.15. The stock has a market cap of $97.25 billion, a P/E ratio of 196.77 and a beta of 1.64.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.61%. Brookfield’s dividend payout ratio is currently 128.57%.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.