Hsbc Holdings PLC Boosts Holdings in Brookfield Co. (NYSE:BN)

Hsbc Holdings PLC grew its holdings in Brookfield Co. (NYSE:BN) by 124.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,262,139 shares of the company’s stock after purchasing an additional 698,810 shares during the quarter. Hsbc Holdings PLC’s holdings in Brookfield were worth $52,246,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BN. Connectus Wealth LLC raised its holdings in Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after acquiring an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC raised its holdings in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares in the last quarter. Blue Trust Inc. raised its holdings in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC acquired a new stake in Brookfield in the second quarter valued at approximately $31,000. Finally, Family Firm Inc. acquired a new stake in Brookfield in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $52.18 on Friday. The firm’s fifty day simple moving average is $47.34 and its 200-day simple moving average is $43.78. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 85.54 and a beta of 1.53. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $52.48. 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 (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 EPS. As a group, equities analysts forecast that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be given a $0.08 dividend. 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 0.61%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Analysts Set New Price Targets

BN has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Scotiabank raised their price objective 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. BMO Capital Markets raised their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.59.

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.