NorthRock Partners LLC Decreases Stock Position in Brookfield Co. (NYSE:BN)

NorthRock Partners LLC lessened its stake in shares of Brookfield Co. (NYSE:BN) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,552 shares of the company’s stock after selling 526 shares during the period. NorthRock Partners LLC’s holdings in Brookfield were worth $204,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BN. Forsta AP Fonden increased its stake in Brookfield by 4.9% in the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock worth $16,499,000 after purchasing an additional 13,300 shares during the period. Triangle Securities Wealth Management increased its stake in shares of Brookfield by 11.2% during the fourth quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company’s stock valued at $5,178,000 after buying an additional 9,048 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Brookfield by 19.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company’s stock valued at $3,940,000 after buying an additional 11,136 shares during the period. Guerra Pan Advisors LLC bought a new position in Brookfield during the 4th quarter worth about $321,000. Finally, Barclays PLC grew its holdings in Brookfield by 521.1% during the 3rd quarter. Barclays PLC now owns 71,402 shares of the company’s stock worth $3,794,000 after acquiring an additional 59,906 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE:BN opened at $59.79 on Monday. The company has a 50 day moving average price of $52.46 and a 200-day moving average price of $56.08. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78. The firm has a market cap of $98.49 billion, a price-to-earnings ratio of 199.29 and a beta of 1.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is currently 128.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BN. Scotiabank cut their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. CIBC cut their price objective on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research report on Friday, May 9th. TD Securities cut their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Morgan Stanley cut their price objective on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.