Fidelis Capital Partners LLC Reduces Position in Brookfield Co. (NYSE:BN)

Fidelis Capital Partners LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,255 shares of the company’s stock after selling 700 shares during the period. Fidelis Capital Partners LLC’s holdings in Brookfield were worth $354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortis Group Advisors LLC increased its stake in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the last quarter. Blue Trust Inc. grew its position in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield in the 2nd quarter valued at $31,000. Family Firm Inc. acquired a new stake in Brookfield during the 2nd quarter worth $36,000. Finally, Salem Investment Counselors Inc. purchased a new stake in Brookfield in the first quarter valued at $42,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN stock opened at $52.54 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The stock has a 50 day simple moving average of $47.59 and a 200-day simple moving average of $43.96. The company has a market cap of $86.36 billion, a price-to-earnings ratio of 86.13 and a beta of 1.53. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $52.71.

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

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BN. Scotiabank raised their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price target 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 increased their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

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.