Envestnet Asset Management Inc. Purchases 26,072 Shares of Brookfield Co. (NYSE:BN)

Envestnet Asset Management Inc. grew its position in shares of Brookfield Co. (NYSE:BN) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,763,283 shares of the company’s stock after acquiring an additional 26,072 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Brookfield worth $73,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Connectus Wealth LLC grew its holdings in Brookfield by 1,049.1% during the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after buying an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC boosted its position in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Blue Trust Inc. boosted its position in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in Brookfield in the second quarter worth $31,000. Finally, Family Firm Inc. purchased a new position in Brookfield in the second quarter worth $36,000. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BN. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Scotiabank upped their price target on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. BMO Capital Markets upped their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Performance

Shares of BN opened at $50.32 on Wednesday. The stock’s 50-day simple moving average is $46.93 and its 200 day simple moving average is $43.62. The stock has a market capitalization of $82.70 billion, a price-to-earnings ratio of 82.48 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.81.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. Research analysts forecast that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

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.