Obermeyer Wealth Partners Buys 421,133 Shares of Brookfield Co. (NYSE:BN)

Obermeyer Wealth Partners boosted its position in shares of Brookfield Co. (NYSE:BN) by 8,053.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 426,362 shares of the company’s stock after purchasing an additional 421,133 shares during the period. Brookfield comprises 1.3% of Obermeyer Wealth Partners’ holdings, making the stock its 29th biggest holding. Obermeyer Wealth Partners’ holdings in Brookfield were worth $24,494,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Forsta AP Fonden boosted its holdings in Brookfield by 4.9% during the 4th quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock valued at $16,499,000 after acquiring an additional 13,300 shares during the period. Chemistry Wealth Management LLC increased its position in shares of Brookfield by 10.1% during the fourth 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 period. Triangle Securities Wealth Management increased its position in shares of Brookfield by 11.2% during the fourth quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company’s stock worth $5,178,000 after acquiring an additional 9,048 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Brookfield by 19.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company’s stock valued at $3,940,000 after acquiring an additional 11,136 shares in the last quarter. Finally, Guerra Pan Advisors LLC purchased a new stake in shares of Brookfield in the fourth quarter valued at approximately $321,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $58.72 on Tuesday. Brookfield Co. has a 12-month low of $39.97 and a 12-month high of $62.78. The business’s fifty day simple moving average is $51.78 and its 200-day simple moving average is $55.92. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The company has a market cap of $96.74 billion, a PE ratio of 195.74 and a beta of 1.64.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. 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 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. Brookfield’s payout ratio is currently 128.57%.

Analyst Ratings Changes

Several research analysts have commented on BN shares. Morgan Stanley reduced their price objective on Brookfield from $83.00 to $61.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. CIBC reduced their price target on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a report on Friday. TD Securities dropped their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, Scotiabank cut their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Brookfield 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.