B. Riley Wealth Advisors Inc. Increases Stock Holdings in Brookfield Co. (NYSE:BN)

B. Riley Wealth Advisors Inc. raised its stake in Brookfield Co. (NYSE:BN) by 4.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 20,902 shares of the company’s stock after acquiring an additional 893 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Brookfield were worth $869,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BN. Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 164,176 shares of the company’s stock worth $6,820,000 after acquiring an additional 7,318 shares during the last quarter. Creative Planning lifted its holdings in shares of Brookfield by 1.2% during the second quarter. Creative Planning now owns 326,427 shares of the company’s stock worth $13,560,000 after purchasing an additional 3,879 shares during the period. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Brookfield by 37.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 70,000 shares of the company’s stock worth $2,908,000 after purchasing an additional 18,900 shares during the period. Millennium Management LLC increased its position in shares of Brookfield by 221.6% in the second quarter. Millennium Management LLC now owns 345,545 shares of the company’s stock valued at $14,363,000 after buying an additional 238,104 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in shares of Brookfield by 224.2% in the second quarter. APG Asset Management N.V. now owns 169,332 shares of the company’s stock valued at $6,570,000 after buying an additional 117,100 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BN. BMO Capital Markets raised their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lifted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Scotiabank lifted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Performance

Shares of BN opened at $53.09 on Friday. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $54.29. 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 market cap of $87.26 billion, a price-to-earnings ratio of 86.80 and a beta of 1.54. The business’s 50 day moving average is $48.61 and its two-hundred day moving average is $44.56.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Analysts forecast that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were paid 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 yield of 0.60%. Brookfield’s payout ratio is currently 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.