Promus Capital LLC Takes $55,000 Position in Brookfield Co. (NYSE:BN)

Promus Capital LLC bought a new stake in shares of Brookfield Co. (NYSE:BN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 951 shares of the company’s stock, valued at approximately $55,000.

Several other hedge funds have also recently added to or reduced their stakes in BN. US Bancorp DE lifted its position in shares of Brookfield by 8.2% in the 3rd quarter. US Bancorp DE now owns 40,350 shares of the company’s stock worth $2,145,000 after acquiring an additional 3,071 shares during the period. NorthRock Partners LLC bought a new stake in shares of Brookfield in the 3rd quarter worth approximately $217,000. Radnor Capital Management LLC lifted its position in shares of Brookfield by 4.3% in the 3rd quarter. Radnor Capital Management LLC now owns 36,783 shares of the company’s stock worth $1,955,000 after acquiring an additional 1,518 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Brookfield in the 3rd quarter worth approximately $246,000. Finally, Malaga Cove Capital LLC bought a new stake in shares of Brookfield in the 3rd quarter worth approximately $202,000. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the subject of a number of research reports. Morgan Stanley initiated coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. Scotiabank raised their target price on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. CIBC raised their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. TD Securities raised their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Brookfield Trading Up 3.0 %

BN stock opened at $55.19 on Thursday. The business has a fifty day moving average price of $58.46 and a 200 day moving average price of $55.71. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The stock has a market capitalization of $90.84 billion, a price-to-earnings ratio of 183.96 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 quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share 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%. Analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued 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 0.65%. Brookfield’s dividend payout ratio is 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.