Verity & Verity LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Verity & Verity LLC purchased a new position in Brookfield Co. (NYSE:BN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,560 shares of the company’s stock, valued at approximately $242,000.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in shares of Brookfield in the second quarter valued at $31,000. Family Firm Inc. acquired a new stake in Brookfield during the 2nd quarter valued at $36,000. First Personal Financial Services acquired a new stake in Brookfield during the 3rd quarter valued at $42,000. Finally, Nisa Investment Advisors LLC increased its stake in Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BN shares. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TD Securities lifted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Down 1.2 %

NYSE:BN opened at $56.11 on Tuesday. The firm has a market capitalization of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. The stock has a 50 day moving average of $53.65 and a 200-day moving average of $47.86. Brookfield Co. has a 52 week low of $33.61 and a 52 week high of $60.20. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Brookfield’s dividend payout ratio is presently 68.09%.

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.