Northwest & Ethical Investments L.P. Decreases Position in Brookfield Co. (NYSE:BN)

Northwest & Ethical Investments L.P. reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 18.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 385,045 shares of the company’s stock after selling 85,808 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Brookfield were worth $20,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after acquiring an additional 9,915 shares during the last quarter. Cetera Investment Advisers raised its position in Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after buying an additional 248,506 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after purchasing an additional 80,762 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares during the period. Finally, Callan Family Office LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $446,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 2.1 %

Brookfield stock traded up $1.29 during mid-day trading on Thursday, hitting $61.37. The company had a trading volume of 2,911,928 shares, compared to its average volume of 2,768,172. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 130.58 and a beta of 1.53. Brookfield Co. has a 1 year low of $33.72 and a 1 year high of $61.63. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The business has a fifty day moving average of $54.74 and a 200 day moving average of $48.46.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. 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 note on Friday, November 15th. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

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.