Millennium Management LLC lifted its stake in shares of Brookfield Co. (NYSE:BN - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 493,342 shares of the company's stock after purchasing an additional 22,348 shares during the quarter. Millennium Management LLC's holdings in Brookfield were worth $28,340,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Focus Partners Wealth raised its stake in shares of Brookfield by 393.4% during the fourth quarter. Focus Partners Wealth now owns 761,473 shares of the company's stock valued at $43,747,000 after purchasing an additional 607,143 shares in the last quarter. Fiduciary Trust Co lifted its holdings in Brookfield by 1.0% in the 4th quarter. Fiduciary Trust Co now owns 35,953 shares of the company's stock valued at $2,066,000 after acquiring an additional 366 shares during the last quarter. Family Management Corp acquired a new stake in Brookfield in the 4th quarter valued at about $563,000. D. E. Shaw & Co. Inc. lifted its holdings in Brookfield by 426.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 23,700 shares of the company's stock valued at $1,361,000 after acquiring an additional 19,200 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Brookfield by 10.3% in the 4th quarter. Deutsche Bank AG now owns 1,722,720 shares of the company's stock valued at $98,970,000 after acquiring an additional 160,841 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.
Brookfield Trading Down 0.7%
NYSE:BN opened at $59.34 on Tuesday. The stock's 50 day moving average price is $52.64 and its 200 day moving average price is $56.13. Brookfield Co. has a 52 week low of $39.97 and a 52 week high of $62.78. The company has a market capitalization of $97.76 billion, a P/E ratio of 197.81 and a beta of 1.64. 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 - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, research analysts forecast that Brookfield Co. will post 3.85 EPS for the current fiscal year.
Brookfield Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. Brookfield's dividend payout ratio is 128.57%.
Wall Street Analyst Weigh In
BN has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. TD Securities cut their price objective on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a report on Monday, May 5th. CIBC cut their price objective on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a report on Friday, May 9th. Finally, Scotiabank cut their price objective on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $63.00.
Check Out Our Latest Stock Analysis on Brookfield
Brookfield Company Profile
(
Free Report)
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.
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