Cetera Investment Advisers Raises Position in Brookfield Corporation (NYSE:BN)

Cetera Investment Advisers lifted its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 363,041 shares of the company's stock after acquiring an additional 29,644 shares during the quarter. Cetera Investment Advisers' holdings in Brookfield were worth $18,999,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of BN. Gilbert & Cook Inc. raised its position in Brookfield by 3.5% in the first quarter. Gilbert & Cook Inc. now owns 26,268 shares of the company's stock worth $1,377,000 after purchasing an additional 889 shares in the last quarter. Jackson Hole Capital Partners LLC increased its position in Brookfield by 16.1% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 50,458 shares of the company's stock valued at $2,645,000 after acquiring an additional 6,980 shares in the last quarter. Davis Rea LTD. lifted its position in shares of Brookfield by 1,379.0% during the first quarter. Davis Rea LTD. now owns 115,139 shares of the company's stock worth $6,026,000 after purchasing an additional 107,354 shares in the last quarter. SFE Investment Counsel bought a new stake in shares of Brookfield during the first quarter worth $295,000. Finally, Guardian Wealth Management Inc. lifted its position in Brookfield by 4.0% during the 1st quarter. Guardian Wealth Management Inc. now owns 58,573 shares of the company's stock valued at $3,070,000 after purchasing an additional 2,229 shares during the period. Institutional investors own 61.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Scotiabank reiterated an "outperform" rating and set a $75.00 price objective (up previously from $69.00) on shares of Brookfield in a report on Wednesday. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the stock an "outperform" rating in a research report on Tuesday. National Bank Financial started coverage on shares of Brookfield in a report on Tuesday. They set an "outperform" rating and a $82.00 price objective on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Brookfield Stock Performance

Shares of Brookfield stock traded down $1.82 during trading on Friday, hitting $65.23. 1,434,608 shares of the stock were exchanged, compared to its average volume of 2,641,130. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average price of $61.85 and a 200-day moving average price of $57.46. The stock has a market capitalization of $107.55 billion, a price-to-earnings ratio of 233.06 and a beta of 1.66. Brookfield Corporation has a 1-year low of $42.21 and a 1-year high of $68.75.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. As a group, equities analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's payout ratio is 128.57%.

About Brookfield

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.