Wedmont Private Capital Makes New Investment in Brookfield Co. (NYSE:BN)

Wedmont Private Capital acquired a new stake in Brookfield Co. (NYSE:BN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,708 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds also recently modified their holdings of the company. Fortis Group Advisors LLC raised its holdings in Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the period. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in Brookfield during the 2nd quarter worth approximately $36,000. Finally, Salem Investment Counselors Inc. bought a new stake in Brookfield in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BN. BMO Capital Markets lifted their target price on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. TD Securities boosted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada lowered their target price 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. Scotiabank boosted their price target on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. 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, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Trading Up 1.0 %

Shares of BN stock opened at $53.56 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $54.43. The company has a market cap of $88.11 billion, a PE ratio of 92.35 and a beta of 1.54. The stock’s fifty day moving average price is $49.28 and its two-hundred day moving average price is $45.06.

Brookfield (NYSE:BN) last released its quarterly earnings data 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 business had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Equities analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a $0.08 dividend. 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 dividend payout ratio is currently 55.17%.

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.