Van ECK Associates Corp Purchases Shares of 5,931 Brookfield Co. (NYSE:BN)

Van ECK Associates Corp purchased a new stake in shares of Brookfield Co. (NYSE:BN) in the fourth quarter, Holdings Channel.com reports. The firm purchased 5,931 shares of the company’s stock, valued at approximately $341,000.

Other hedge funds have also added to or reduced their stakes in the company. First Personal Financial Services bought a new stake in Brookfield during the third quarter worth about $42,000. FSA Wealth Management LLC bought a new stake in shares of Brookfield during the 3rd quarter valued at about $42,000. Prestige Wealth Management Group LLC lifted its position in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after buying an additional 500 shares in the last quarter. Continuum Advisory LLC purchased a new position in shares of Brookfield in the third quarter worth $55,000. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of Brookfield by 29.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after buying an additional 221 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

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

Brookfield Price Performance

Brookfield stock opened at $58.68 on Friday. The business has a 50 day simple moving average of $58.54 and a 200 day simple moving average of $55.07. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The company has a market capitalization of $96.59 billion, a PE ratio of 195.60 and a beta of 1.57. 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 released its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (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%. On average, sell-side analysts forecast that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders 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 dividend yield of 0.61%. Brookfield’s dividend payout ratio (DPR) is presently 106.67%.

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.