Summit Financial LLC Boosts Holdings in Brookfield Co. (NYSE:BN)

Summit Financial LLC boosted its position in shares of Brookfield Co. (NYSE:BN) by 622.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,508 shares of the company’s stock after purchasing an additional 23,700 shares during the period. Summit Financial LLC’s holdings in Brookfield were worth $1,580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Haverford Trust Co increased its stake in Brookfield by 4.7% in the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock worth $247,000 after buying an additional 192 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock worth $955,000 after acquiring an additional 197 shares during the period. Pittenger & Anderson Inc. raised 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. Pinnacle Bancorp Inc. boosted its holdings in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares during the period. Finally, Citizens Financial Group Inc. RI increased its holdings in Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock worth $250,000 after purchasing an additional 240 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. CIBC increased their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. TD Securities raised their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Scotiabank increased their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley assumed coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Price Performance

Shares of NYSE BN opened at $53.89 on Wednesday. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company has a market cap of $88.74 billion, a PE ratio of 179.64 and a beta of 1.65. The business has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $56.33.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. As a group, equities analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.67%. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

Brookfield 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.