Sage Investment Counsel LLC Acquires New Position in Brookfield Co. (NYSE:BN)

Sage Investment Counsel LLC acquired a new stake in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, Holdings Channel.com reports. The fund acquired 14,088 shares of the company’s stock, valued at approximately $809,000. Brookfield accounts for approximately 1.1% of Sage Investment Counsel LLC’s portfolio, making the stock its 22nd largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Brookfield by 131.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after acquiring an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after acquiring an additional 9,915 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 acquiring an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG lifted its stake in Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after acquiring an additional 142,603 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Brookfield Trading Up 1.8 %

Shares of BN stock opened at $57.88 on Friday. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The firm’s fifty day simple moving average is $58.60 and its 200 day simple moving average is $55.46. The firm has a market capitalization of $95.28 billion, a P/E ratio of 192.94 and a beta of 1.57. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (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%. As a group, sell-side analysts predict that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is currently 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.