Providence Capital Advisors LLC Purchases 1,145 Shares of Brookfield Co. (NYSE:BN)

Providence Capital Advisors LLC raised its position in shares of Brookfield Co. (NYSE:BN) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 140,334 shares of the company’s stock after buying an additional 1,145 shares during the quarter. Brookfield comprises approximately 1.6% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 11th biggest holding. Providence Capital Advisors LLC’s holdings in Brookfield were worth $8,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Brookfield by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after acquiring an additional 974,533 shares during the period. Norges Bank acquired a new stake in Brookfield in the 4th quarter worth $973,591,000. CIBC Asset Management Inc increased its holdings in shares of Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after buying an additional 196,790 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Morgan Stanley started coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target for the company. CIBC upped their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Scotiabank lifted their price target on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. Finally, 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 research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Performance

Brookfield stock opened at $54.13 on Friday. The firm has a market capitalization of $89.13 billion, a P/E ratio of 180.42 and a beta of 1.65. The stock has a fifty day moving average price of $56.96 and a two-hundred day moving average price of $56.12. 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 current ratio of 1.21 and a quick ratio of 1.09.

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, analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid 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 currently 120.00%.

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.