Brookfield Co. (NYSE:BN) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its position in shares of Brookfield Co. (NYSE:BN) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,811 shares of the company’s stock after purchasing an additional 1,196 shares during the period. Providence Capital Advisors LLC’s holdings in Brookfield were worth $5,725,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Nicholas Hoffman & Company LLC. lifted its position in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after purchasing an additional 257 shares during the last quarter. Blue Trust Inc. increased its stake in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Mckinley Capital Management LLC increased its stake in shares of Brookfield by 0.9% during the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock worth $1,367,000 after acquiring an additional 283 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Brookfield by 4.5% during the first quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock worth $277,000 after acquiring an additional 288 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after acquiring an additional 296 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

NYSE:BN opened at $52.54 on Tuesday. The stock has a market cap of $86.36 billion, a P/E ratio of 86.13 and a beta of 1.53. Brookfield Co. has a one year low of $28.84 and a one year high of $52.71. The company has a fifty day moving average price of $47.59 and a 200 day moving average price of $43.96. 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 (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company 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 company posted $0.75 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a $0.08 dividend. 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 payout ratio is 52.46%.

Analyst Ratings Changes

Several brokerages have issued reports on BN. Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Scotiabank increased their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price target 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, Keefe, Bruyette & Woods increased their price objective 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.59.

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.