Oppenheimer Asset Management Inc. Has $5.88 Million Stock Holdings in Brookfield Co. (NYSE:BN)

Oppenheimer Asset Management Inc. grew its position in shares of Brookfield Co. (NYSE:BN) by 2.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 102,358 shares of the company’s stock after buying an additional 2,232 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Brookfield were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. K.J. Harrison & Partners Inc increased its position in Brookfield by 9.1% during the fourth quarter. K.J. Harrison & Partners Inc now owns 74,379 shares of the company’s stock worth $4,276,000 after acquiring an additional 6,235 shares during the period. GenTrust LLC increased its holdings in shares of Brookfield by 7.9% during the fourth quarter. GenTrust LLC now owns 6,678 shares of the company’s stock worth $384,000 after purchasing an additional 488 shares during the period. Denali Advisors LLC raised its position in shares of Brookfield by 1.2% in the fourth quarter. Denali Advisors LLC now owns 32,550 shares of the company’s stock valued at $1,870,000 after buying an additional 371 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in shares of Brookfield in the fourth quarter valued at approximately $210,000. Finally, Lingotto Investment Management LLP acquired a new stake in Brookfield during the fourth quarter worth approximately $7,819,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

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

Brookfield Trading Up 1.8 %

Shares of Brookfield stock opened at $57.88 on Friday. The firm’s 50 day moving average is $58.60 and its 200 day moving average is $55.46. The firm has a market capitalization of $95.28 billion, a PE ratio of 192.94 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 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 posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share 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%. Equities research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.62%. Brookfield’s dividend payout ratio 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.