Promus Capital LLC Takes $55,000 Position in Brookfield Co. (NYSE:BN)

Promus Capital LLC bought a new stake in Brookfield Co. (NYSE:BN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 951 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aigen Investment Management LP acquired a new stake in shares of Brookfield during the fourth quarter worth $1,230,000. Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,788,312 shares of the company’s stock worth $217,631,000 after purchasing an additional 223,995 shares during the period. Plato Investment Management Ltd grew its stake in shares of Brookfield by 162.2% during the fourth quarter. Plato Investment Management Ltd now owns 21,469 shares of the company’s stock worth $1,238,000 after purchasing an additional 13,280 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Brookfield during the fourth quarter worth $108,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Brookfield by 55.4% during the fourth quarter. Jones Financial Companies Lllp now owns 8,263 shares of the company’s stock worth $475,000 after purchasing an additional 2,945 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Brookfield Stock Performance

BN stock opened at $55.19 on Thursday. The firm has a market cap of $90.84 billion, a PE ratio of 183.96 and a beta of 1.57. The business’s 50-day moving average price is $58.46 and its two-hundred day moving average price is $55.71. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

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

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.65%. Brookfield’s dividend payout ratio (DPR) is 120.00%.

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.