PFG Investments LLC Decreases Stake in Brookfield Co. (NYSE:BN)

PFG Investments LLC decreased its holdings in Brookfield Co. (NYSE:BN) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 10,154 shares of the company’s stock after selling 224 shares during the period. PFG Investments LLC’s holdings in Brookfield were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Blacksheep Fund Management Ltd acquired a new position in shares of Brookfield during the 4th quarter valued at $101,800,000. American National Bank & Trust Co. VA acquired a new position in shares of Brookfield during the first quarter worth about $5,716,000. M&G Plc purchased a new stake in shares of Brookfield in the first quarter worth about $111,222,000. Cetera Investment Advisers grew its stake in shares of Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after buying an additional 248,506 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Brookfield in the fourth quarter valued at about $614,104,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BN has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets upped their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Scotiabank lifted their target price on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Trading Up 1.8 %

Shares of NYSE BN opened at $48.95 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock’s 50 day moving average price is $46.64 and its two-hundred day moving average price is $43.46. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.46. The stock has a market capitalization of $80.46 billion, a P/E ratio of 80.25 and a beta of 1.53.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 EPS. On average, analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

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.