Cetera Investment Advisers Raises Stock Position in Brookfield Co. (NYSE:BN)

Cetera Investment Advisers grew its holdings in Brookfield Co. (NYSE:BN) by 16.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,644 shares of the company’s stock after acquiring an additional 43,837 shares during the period. Cetera Investment Advisers’ holdings in Brookfield were worth $13,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Brookfield in the 2nd quarter worth approximately $128,321,000. M&G Plc purchased a new position in shares of Brookfield in the first quarter worth $111,222,000. Capital World Investors boosted its position in shares of Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. Wulff Hansen & CO. grew its stake in Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after acquiring an additional 1,505,372 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new stake in Brookfield in the 1st quarter worth $55,166,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 1.0 %

NYSE BN opened at $53.09 on Friday. The stock has a market cap of $87.26 billion, a P/E ratio of 87.03 and a beta of 1.54. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $54.29. The company has a fifty day simple moving average of $48.61 and a two-hundred day simple moving average of $44.56.

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

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. Brookfield’s payout ratio is currently 52.46%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets increased their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Scotiabank boosted their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, TD Securities increased their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

About Brookfield

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.