Gateway Investment Advisers LLC Acquires 17,649 Shares of Brookfield Co. (NYSE:BN)

Gateway Investment Advisers LLC raised its holdings in Brookfield Co. (NYSE:BN) by 17.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 120,453 shares of the company’s stock after purchasing an additional 17,649 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Brookfield were worth $6,313,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Barclays PLC raised its position in shares of Brookfield by 521.1% during the third quarter. Barclays PLC now owns 71,402 shares of the company’s stock worth $3,794,000 after acquiring an additional 59,906 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Brookfield by 1.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company’s stock worth $4,520,000 after acquiring an additional 974 shares during the last quarter. Regents of The University of California bought a new stake in shares of Brookfield during the fourth quarter worth $154,140,000. SVB Wealth LLC bought a new stake in shares of Brookfield during the fourth quarter worth $210,000. Finally, American Century Companies Inc. raised its position in shares of Brookfield by 3.6% during the fourth quarter. American Century Companies Inc. now owns 64,088 shares of the company’s stock worth $3,684,000 after acquiring an additional 2,200 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 1.3%

NYSE:BN opened at $58.88 on Friday. Brookfield Co. has a 1 year low of $39.97 and a 1 year high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a market cap of $97.01 billion, a price-to-earnings ratio of 196.27 and a beta of 1.66. The stock has a 50-day moving average price of $54.00 and a two-hundred day moving average price of $56.22.

Brookfield (NYSE:BN) last posted its 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. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. As a group, equities analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 0.61%. Brookfield’s payout ratio is 128.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Morgan Stanley reiterated an “overweight” rating on shares of Brookfield in a report on Monday, May 19th. Scotiabank dropped their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a report on Monday, April 7th. CIBC dropped their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a report on Friday, May 9th. Finally, TD Securities dropped their price objective on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.