Golden State Equity Partners Raises Stock Holdings in Brookfield Co. (NYSE:BN)

Golden State Equity Partners grew its stake in Brookfield Co. (NYSE:BN) by 23.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,307 shares of the company’s stock after buying an additional 1,018 shares during the quarter. Golden State Equity Partners’ holdings in Brookfield were worth $305,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BN. Millennium Management LLC boosted its stake in shares of Brookfield by 221.6% in the second quarter. Millennium Management LLC now owns 345,545 shares of the company’s stock worth $14,363,000 after acquiring an additional 238,104 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Brookfield in the second quarter worth about $1,956,000. Chemistry Wealth Management LLC boosted its stake in shares of Brookfield by 2.6% in the third quarter. Chemistry Wealth Management LLC now owns 229,438 shares of the company’s stock worth $12,195,000 after acquiring an additional 5,898 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of Brookfield in the third quarter worth about $612,000. Finally, Value Partners Investments Inc. boosted its stake in shares of Brookfield by 9.2% in the third quarter. Value Partners Investments Inc. now owns 27,610 shares of the company’s stock worth $1,467,000 after acquiring an additional 2,325 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. CIBC increased their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target for the company. Finally, Scotiabank increased their price target on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus price target of $60.28.

Brookfield Price Performance

NYSE:BN opened at $59.32 on Tuesday. The firm has a market capitalization of $97.63 billion, a price-to-earnings ratio of 126.22 and a beta of 1.57. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The business has a 50 day simple moving average of $58.67 and a 200-day simple moving average of $53.82. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Brookfield Company 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.