Creative Planning Acquires 3,879 Shares of Brookfield Co. (NYSE:BN)

Creative Planning boosted its position in Brookfield Co. (NYSE:BN) by 1.2% in the second quarter, Holdings Channel.com reports. The firm owned 326,427 shares of the company’s stock after purchasing an additional 3,879 shares during the quarter. Creative Planning’s holdings in Brookfield were worth $13,560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American National Bank & Trust Co. VA bought a new position in shares of Brookfield in the first quarter valued at approximately $5,716,000. M&G Plc purchased a new position in shares of Brookfield in the first quarter valued at $111,222,000. Cetera Investment Advisers grew its position in shares of Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after purchasing an additional 248,506 shares in the last quarter. Perpetual Ltd purchased a new position in shares of Brookfield in the first quarter valued at $1,388,000. Finally, Forsta AP Fonden boosted its stake in Brookfield by 12.8% during the first quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock valued at $10,882,000 after buying an additional 29,500 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 0.4 %

Shares of NYSE:BN opened at $53.16 on Tuesday. 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 Co. has a 12 month low of $28.84 and a 12 month high of $54.29. The company has a 50-day moving average price of $48.23 and a 200 day moving average price of $44.36. The company has a market cap of $87.38 billion, a price-to-earnings ratio of 87.15 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, equities research analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on BN. Scotiabank lifted their price target on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. BMO Capital Markets boosted their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada reduced their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. 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, the stock presently 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.