Envestnet Asset Management Inc. increased its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,948,797 shares of the company's stock after purchasing an additional 159,685 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Brookfield worth $111,959,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Compass Planning Associates Inc purchased a new stake in shares of Brookfield during the fourth quarter worth about $30,000. Prestige Wealth Management Group LLC grew its stake in Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company's stock worth $46,000 after acquiring an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Brookfield in the 4th quarter valued at $48,000. Continuum Advisory LLC acquired a new position in Brookfield in the 3rd quarter valued at $55,000. Finally, Promus Capital LLC purchased a new position in shares of Brookfield during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 61.60% of the company's stock.
Brookfield Stock Up 3.6 %
Shares of NYSE:BN traded up $1.67 during midday trading on Friday, hitting $48.60. 4,065,869 shares of the company's stock traded hands, compared to its average volume of 2,821,710. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a market cap of $80.03 billion, a PE ratio of 162.01 and a beta of 1.60. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The firm's fifty day moving average price is $54.22 and its two-hundred day moving average price is $56.05.
Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (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%. On average, equities research analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.
Brookfield Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Friday, March 14th. Brookfield's dividend payout ratio (DPR) is 120.00%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BN. TD Securities upped their target price on Brookfield from $74.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Scotiabank cut their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. Morgan Stanley assumed coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an "overweight" rating and a $80.00 target price for the company. Finally, CIBC increased their price target on shares of Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Brookfield presently has a consensus rating of "Moderate Buy" and an average target price of $63.63.
Check Out Our Latest Research Report on BN
About Brookfield
(
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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