Brookfield Co. (NYSE:BN) Stake Cut by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC cut its stake in Brookfield Co. (NYSE:BN) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,958 shares of the company’s stock after selling 607 shares during the period. Opal Wealth Advisors LLC’s holdings in Brookfield were worth $207,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Wealth Partners Ltd. boosted its position in shares of Brookfield by 1.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company’s stock valued at $618,000 after purchasing an additional 170 shares during the period. Haverford Trust Co boosted its position in shares of Brookfield by 4.7% in the 4th quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock valued at $247,000 after purchasing an additional 192 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Brookfield by 1.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock valued at $955,000 after purchasing an additional 197 shares during the period. Pittenger & Anderson Inc. boosted its position in shares of Brookfield by 14.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after purchasing an additional 203 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its position in shares of Brookfield by 5.8% in the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock valued at $250,000 after purchasing an additional 240 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 2.5%

Shares of Brookfield stock opened at $57.75 on Friday. The firm has a market cap of $95.15 billion, a price-to-earnings ratio of 192.52 and a beta of 1.66. 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 Co. has a 52-week low of $39.97 and a 52-week high of $62.78. The stock has a 50-day simple moving average of $55.05 and a 200-day simple moving average of $56.24.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share 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 business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. On average, equities research analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield’s payout ratio is 128.57%.

Wall Street Analyst Weigh In

BN has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on 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 decreased their price objective on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley restated an “overweight” rating on shares of Brookfield in a research report on Monday, May 19th. Scotiabank decreased their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research report on Monday, April 7th. Finally, CIBC decreased their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research report on Friday, May 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $63.00.

About Brookfield

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.