Creative Planning Boosts Position in Brookfield Co. (NYSE:BN)

Creative Planning boosted its holdings in Brookfield Co. (NYSE:BN) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 326,427 shares of the company’s stock after buying an additional 3,879 shares during the period. Creative Planning’s holdings in Brookfield were worth $13,560,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the period. Capital World Investors raised its stake in shares of Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Brookfield by 5.0% during the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after purchasing an additional 269,813 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Brookfield by 3.7% in the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after acquiring an additional 113,241 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BN shares. Scotiabank boosted 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. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Trading Down 0.4 %

NYSE:BN opened at $53.16 on Tuesday. The stock has a market capitalization of $87.38 billion, a PE ratio of 87.15 and a beta of 1.53. The business’s 50-day simple moving average is $48.23 and its 200-day simple moving average is $44.36. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $54.29.

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

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s dividend payout ratio is 52.46%.

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.