B. Riley Wealth Advisors Inc. Increases Stake in Brookfield Co. (NYSE:BN)

B. Riley Wealth Advisors Inc. grew its position in Brookfield Co. (NYSE:BN) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,902 shares of the company’s stock after acquiring an additional 893 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Brookfield were worth $869,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BN. Fortis Group Advisors LLC increased its position in Brookfield by 100.0% during the 4th 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 period. Blue Trust Inc. increased its position in Brookfield by 62.8% during the 2nd 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. Kings Path Partners LLC purchased a new position in Brookfield during the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in shares of Brookfield in the 2nd quarter worth approximately $36,000. Finally, Salem Investment Counselors Inc. purchased a new position in shares of Brookfield in the 1st quarter worth approximately $42,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.0 %

Shares of BN opened at $53.09 on Friday. The stock has a market capitalization of $87.26 billion, a PE ratio of 86.80 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 has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company’s 50-day simple moving average is $48.61 and its 200-day simple moving average is $44.56.

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

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

BN has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets lifted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Scotiabank lifted their target price on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Two 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, the company has an average rating of “Moderate Buy” and an average 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.