Miracle Mile Advisors LLC Invests $612,000 in Brookfield Co. (NYSE:BN)

Miracle Mile Advisors LLC purchased a new stake in shares of Brookfield Co. (NYSE:BN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,516 shares of the company’s stock, valued at approximately $612,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after buying an additional 1,063,110 shares during the last quarter. Capital World Investors lifted its position in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings 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 worth $946,495,000 after acquiring an additional 299,029 shares during the period. Cooke & Bieler LP grew its position in shares of Brookfield by 5.0% in 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 during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Brookfield by 3.7% during the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after purchasing an additional 113,241 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target 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. 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. Scotiabank raised their target price on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $51.59.

Brookfield Stock Performance

Shares of NYSE:BN opened at $52.40 on Wednesday. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $54.29. The stock has a market capitalization of $86.13 billion, a price-to-earnings ratio of 85.90 and a beta of 1.54. 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 company’s 50 day simple moving average is $48.92 and its 200 day simple 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 (EPS) for the quarter, beating 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 company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, research analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

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

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.