Cetera Investment Advisers Boosts Stake in Brookfield Co. (NYSE:BN)

Cetera Investment Advisers lifted its holdings in Brookfield Co. (NYSE:BN) by 16.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 316,644 shares of the company’s stock after purchasing an additional 43,837 shares during the quarter. Cetera Investment Advisers’ holdings in Brookfield were worth $13,168,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. increased its stake in shares of Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. grew its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Mckinley Capital Management LLC lifted its position in Brookfield by 0.9% in the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after buying an additional 283 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in shares of Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after acquiring an additional 296 shares during the period. Finally, Pembroke Management LTD increased its holdings in Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 1.0 %

Shares of NYSE:BN opened at $53.09 on Friday. The company has a market cap of $87.26 billion, a PE ratio of 87.03 and a beta of 1.54. The company’s 50 day moving average is $48.61 and its two-hundred day moving average is $44.56. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $54.29. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.24 billion. During the same period last year, the business earned $0.75 EPS. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts predict that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BN shares. TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their price objective 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. Scotiabank increased their target price on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

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.