Sanctuary Advisors LLC Takes Position in Brookfield Co. (NYSE:BN)

Sanctuary Advisors LLC bought a new position in shares of Brookfield Co. (NYSE:BN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 47,785 shares of the company’s stock, valued at approximately $1,956,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BN. Fortis Group Advisors LLC increased its holdings in Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of 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 stake in shares of Brookfield in the second quarter worth about $31,000. Family Firm Inc. bought a new position in Brookfield during the second quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. bought a new position in Brookfield during the first quarter valued at approximately $42,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Brookfield stock opened at $52.40 on Wednesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The firm has a market capitalization of $86.13 billion, a P/E ratio of 85.90 and a beta of 1.54. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $54.29. The company’s 50-day moving average is $48.92 and its 200 day moving average is $44.83.

Brookfield (NYSE:BN) last issued 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. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the business posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts forecast that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BN shares. Scotiabank upped 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 upped their price target on shares of 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 dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Company 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.