Bristol Gate Capital Partners Inc. Boosts Stake in Brookfield Co. (NYSE:BN)

Bristol Gate Capital Partners Inc. lifted its position in Brookfield Co. (NYSE:BN) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,343 shares of the company’s stock after acquiring an additional 2,958 shares during the period. Brookfield accounts for about 0.1% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 23rd largest holding. Bristol Gate Capital Partners Inc.’s holdings in Brookfield were worth $1,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its stake in Brookfield by 102.2% during the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after acquiring an additional 24,975,364 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Brookfield by 16.2% in the 4th 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 during the last quarter. SG Americas Securities LLC bought a new position in Brookfield during the 2nd quarter valued at approximately $128,321,000. M&G Plc purchased a new position in Brookfield during the first quarter valued at $111,222,000. Finally, Blacksheep Fund Management Ltd bought a new stake in Brookfield in the fourth quarter worth $101,800,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada decreased their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price objective 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, Scotiabank increased their target price on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

Brookfield Stock Up 4.5 %

BN opened at $52.21 on Friday. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $52.30. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm has a 50 day moving average price of $47.19 and a 200-day moving average price of $43.72. The stock has a market capitalization of $85.82 billion, a price-to-earnings ratio of 85.59 and a beta of 1.53.

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

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield’s dividend payout ratio is currently 52.46%.

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.