Alberta Investment Management Corp Acquires 129,035 Shares of Brookfield Co. (NYSE:BN)

Alberta Investment Management Corp raised its position in Brookfield Co. (NYSE:BN) by 3.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,334,991 shares of the company’s stock after purchasing an additional 129,035 shares during the period. Brookfield accounts for approximately 1.7% of Alberta Investment Management Corp’s portfolio, making the stock its 4th largest position. Alberta Investment Management Corp’s holdings in Brookfield were worth $249,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BN. Creative Planning lifted its position in shares of Brookfield by 7.1% in the 3rd quarter. Creative Planning now owns 349,696 shares of the company’s stock worth $18,586,000 after purchasing an additional 23,269 shares during the period. Blue Trust Inc. increased its stake in shares of Brookfield by 178.4% in the 3rd quarter. Blue Trust Inc. now owns 1,963 shares of the company’s stock valued at $104,000 after acquiring an additional 1,258 shares in the last quarter. Maple Capital Management Inc. bought a new stake in shares of Brookfield in the 3rd quarter valued at $280,000. Graybill Wealth Management LTD. increased its stake in shares of Brookfield by 0.6% in the 3rd quarter. Graybill Wealth Management LTD. now owns 137,951 shares of the company’s stock valued at $7,332,000 after acquiring an additional 759 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Brookfield by 4,149.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock valued at $41,263,000 after acquiring an additional 758,076 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on BN shares. TD Securities boosted their price target 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. CIBC boosted their price target on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target for the company. BMO Capital Markets restated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, Scotiabank boosted their price target 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Price Performance

Shares of NYSE:BN opened at $61.29 on Wednesday. The company’s 50-day moving average is $58.52 and its 200 day moving average is $54.82. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company has a market capitalization of $100.90 billion, a P/E ratio of 204.31 and a beta of 1.57. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78.

Brookfield (NYSE:BN) last issued its quarterly 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%. On average, equities research analysts forecast that Brookfield Co. will post 3.9 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 106.67%.

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.