Hillsdale Investment Management Inc. Boosts Position in Brookfield Co. (NYSE:BN)

Hillsdale Investment Management Inc. increased its holdings in shares of Brookfield Co. (NYSE:BN) by 661.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 256,648 shares of the company’s stock after purchasing an additional 222,933 shares during the quarter. Brookfield makes up approximately 0.7% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 24th biggest position. Hillsdale Investment Management Inc.’s holdings in Brookfield were worth $14,735,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BN. Baillie Gifford & Co. increased its position in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after buying an additional 3,271,403 shares during the period. The Manufacturers Life Insurance Company increased its position in 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 buying an additional 2,818,716 shares during the period. Regents of The University of California acquired a new position in Brookfield during the fourth quarter worth approximately $154,140,000. Raymond James Financial Inc. acquired a new position in Brookfield during the fourth quarter worth approximately $82,795,000. Finally, Toronto Dominion Bank increased its holdings in shares of Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.2 %

Shares of BN stock opened at $53.65 on Friday. The business’s fifty day moving average price is $57.07 and its 200 day moving average price is $55.91. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The firm has a market capitalization of $88.34 billion, a PE ratio of 178.83 and a beta of 1.65. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping 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, sell-side analysts forecast that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.67%. Brookfield’s payout ratio is 120.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BN. Scotiabank boosted their target price on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. CIBC boosted their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Morgan Stanley began coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. Finally, TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.