Brookfield (NYSE:BN) Shares Gap Down to $41.35

Shares of Brookfield Co. (NYSE:BN) gapped down before the market opened on Thursday . The stock had previously closed at $41.35, but opened at $40.37. Brookfield shares last traded at $40.54, with a volume of 202,731 shares traded.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BN. Royal Bank of Canada dropped their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $46.00 target price (up previously from $45.00) on shares of Brookfield in a report on Friday, May 10th. Finally, Scotiabank dropped their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.10.

Brookfield Stock Performance

The stock has a fifty day simple moving average of $42.18 and a two-hundred day simple moving average of $40.77. The stock has a market cap of $66.62 billion, a price-to-earnings ratio of 66.50 and a beta of 1.51. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The company had revenue of $22.91 billion during the quarter. During the same quarter in the previous year, the company posted $0.72 earnings per share. Analysts expect that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.79%. The ex-dividend date is Thursday, June 13th. Brookfield’s dividend payout ratio is currently 52.46%.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. grew its stake in shares of Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares during the period. Connectus Wealth LLC grew its stake in shares of Brookfield by 1,049.1% in the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after buying an additional 557,749 shares during the period. Fortis Group Advisors LLC grew its stake in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after buying an additional 337 shares during the period. Allworth Financial LP grew its stake in shares of Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after buying an additional 638 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Brookfield in the 1st quarter valued at about $42,000. 61.60% of the stock is owned by institutional investors.

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.