Meketa Capital LLC Makes New $1.10 Million Investment in Brookfield Co. (NYSE:BN)

Meketa Capital LLC purchased a new position in Brookfield Co. (NYSE:BN) during the 4th quarter, Holdings Channel reports. The fund purchased 19,058 shares of the company’s stock, valued at approximately $1,095,000. Brookfield comprises 2.5% of Meketa Capital LLC’s holdings, making the stock its 15th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Forsta AP Fonden grew its stake in Brookfield by 4.9% during the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock valued at $16,499,000 after acquiring an additional 13,300 shares in the last quarter. Chemistry Wealth Management LLC increased its holdings in shares of Brookfield by 10.1% in the 4th quarter. Chemistry Wealth Management LLC now owns 252,597 shares of the company’s stock worth $14,512,000 after buying an additional 23,159 shares during the last quarter. Triangle Securities Wealth Management increased its holdings in shares of Brookfield by 11.2% in the 4th quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company’s stock worth $5,178,000 after buying an additional 9,048 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Brookfield by 19.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company’s stock worth $3,940,000 after buying an additional 11,136 shares during the last quarter. Finally, Guerra Pan Advisors LLC bought a new stake in shares of Brookfield in the 4th quarter worth about $321,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BN has been the topic of a number of research reports. CIBC reduced their target price on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a report on Friday. Scotiabank lowered their price objective on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. TD Securities lowered their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Finally, Morgan Stanley reduced their price target on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Brookfield Trading Up 3.6%

Shares of Brookfield stock opened at $58.72 on Tuesday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12-month low of $39.97 and a 12-month high of $62.78. The firm has a market capitalization of $96.74 billion, a price-to-earnings ratio of 195.74 and a beta of 1.64. The firm’s 50 day simple moving average is $51.78 and its two-hundred day simple moving average is $55.92.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Analysts predict that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield’s payout ratio is currently 128.57%.

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.