Oppenheimer & Co. Inc. Boosts Stock Position in Brookfield Co. (NYSE:BN)

Oppenheimer & Co. Inc. lifted its position in shares of Brookfield Co. (NYSE:BN) by 133.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,846 shares of the company’s stock after purchasing an additional 45,713 shares during the period. Oppenheimer & Co. Inc.’s holdings in Brookfield were worth $4,587,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares during the period. Toronto Dominion Bank lifted its holdings in Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank raised their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. CIBC raised their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. TD Securities raised their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley assumed coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Price Performance

Shares of NYSE BN opened at $57.88 on Friday. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The company has a 50 day simple moving average of $58.60 and a two-hundred day simple moving average of $55.46. The company has a market capitalization of $95.28 billion, a price-to-earnings ratio of 192.94 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is currently 120.00%.

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.