Norges Bank Makes New Investment in Brookfield Co. (NYSE:BN)

Norges Bank purchased a new position in Brookfield Co. (NYSE:BN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,956,500 shares of the company’s stock, valued at approximately $973,591,000. Norges Bank owned about 1.03% of Brookfield at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after buying an additional 263,375 shares during the last quarter. Geode Capital Management LLC boosted its position in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Brookfield in the 3rd quarter worth approximately $6,485,000. Forsta AP Fonden boosted its stake in Brookfield by 4.9% in the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock worth $16,499,000 after purchasing an additional 13,300 shares in the last quarter. Finally, Chemistry Wealth Management LLC grew its holdings in Brookfield by 10.1% during the 4th quarter. Chemistry Wealth Management LLC now owns 252,597 shares of the company’s stock worth $14,512,000 after acquiring an additional 23,159 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Brookfield Stock Down 0.3 %

Shares of Brookfield stock opened at $54.13 on Friday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The business’s 50 day simple moving average is $56.96 and its 200 day simple moving average is $56.12. The firm has a market cap of $89.13 billion, a PE ratio of 180.42 and a beta of 1.65.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, analysts predict that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company 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 $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 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.