Brookfield Co. (NYSE:BN) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in shares of Brookfield Co. (NYSE:BN) by 57.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 98,684 shares of the company’s stock after purchasing an additional 35,938 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Brookfield were worth $4,099,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BN. Capital World Investors increased its position in Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after purchasing an additional 24,975,364 shares in the last quarter. Norges Bank acquired a new stake in shares of Brookfield during the 4th quarter worth about $614,104,000. TD Asset Management Inc grew its holdings in shares of Brookfield by 16.2% during the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after buying an additional 3,702,266 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Brookfield in the second quarter valued at approximately $128,321,000. Finally, M&G Plc purchased a new position in shares of Brookfield during the first quarter valued at approximately $111,222,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BN shares. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Scotiabank increased 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. JPMorgan Chase & Co. raised their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. TD Securities upped their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets raised their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Performance

NYSE BN opened at $50.41 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $50.46. The firm has a market capitalization of $82.86 billion, a P/E ratio of 82.64 and a beta of 1.53. The business’s 50-day simple moving average is $46.93 and its 200-day simple moving average is $43.62.

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

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

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.