BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Position in Brookfield Co. (NYSE:BN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield Co. (NYSE:BN) by 36.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 632,467 shares of the company’s stock after purchasing an additional 169,342 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Brookfield were worth $36,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $29,000. Compass Planning Associates Inc purchased a new stake in Brookfield during the 4th quarter valued at about $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Brookfield in the 4th quarter valued at about $48,000. Transce3nd LLC acquired a new position in shares of Brookfield during the 4th quarter worth approximately $51,000. Finally, Promus Capital LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at approximately $55,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brookfield Price Performance

Shares of 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. The company has a market cap of $97.25 billion, a PE ratio of 196.77 and a beta of 1.64. The stock has a fifty day moving average price of $52.85 and a 200 day moving average price of $56.15. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78.

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

Brookfield Dividend Announcement

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