PCJ Investment Counsel Ltd. grew its stake in Brookfield Co. (NYSE:BN - Free Report) by 69.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,120 shares of the company's stock after purchasing an additional 113,840 shares during the period. Brookfield makes up approximately 5.4% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 4th biggest holding. PCJ Investment Counsel Ltd.'s holdings in Brookfield were worth $15,908,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company's stock worth $24,594,000 after acquiring an additional 263,375 shares during the period. PNC Financial Services Group Inc. grew its holdings in Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company's stock worth $9,764,000 after acquiring an additional 9,915 shares during the period. Geode Capital Management LLC grew its holdings in Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company's stock worth $320,670,000 after acquiring an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company's stock worth $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG boosted its position in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company's stock worth $21,754,000 after purchasing an additional 142,603 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.
Brookfield Stock Up 0.9 %
Shares of BN stock traded up $0.45 during trading hours on Wednesday, reaching $50.33. The company had a trading volume of 2,633,184 shares, compared to its average volume of 2,512,245. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a market capitalization of $82.85 billion, a P/E ratio of 167.77 and a beta of 1.65. The stock's fifty day simple moving average is $57.96 and its 200 day simple moving average is $55.88.
Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield's dividend payout ratio is presently 120.00%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Scotiabank boosted their target price on Brookfield from $69.00 to $71.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 3rd. BMO Capital Markets reiterated an "outperform" rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley started coverage on Brookfield in a research note on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price target for the company. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $64.00.
View Our Latest Analysis on BN
Brookfield Profile
(
Free Report)
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.
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