Carmel Capital Partners LLC Has $2.33 Million Position in Brookfield Co. (NYSE:BN)

Carmel Capital Partners LLC grew its holdings in Brookfield Co. (NYSE:BN) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,605 shares of the company’s stock after purchasing an additional 1,754 shares during the quarter. Brookfield comprises 0.9% of Carmel Capital Partners LLC’s portfolio, making the stock its 18th biggest holding. Carmel Capital Partners LLC’s holdings in Brookfield were worth $2,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc grew its position in shares of Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Brookfield by 1.7% in 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 period. 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. Finally, Geode Capital Management LLC lifted its stake in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Up 3.0 %

Shares of BN opened at $55.19 on Thursday. The stock has a market cap of $90.84 billion, a price-to-earnings ratio of 183.96 and a beta of 1.57. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. The company has a 50-day moving average price of $58.46 and a two-hundred day moving average price of $55.71.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating 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 analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

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 0.65%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is currently 120.00%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BN shares. CIBC increased their target price 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 issued an “overweight” rating and a $80.00 target price for the company. Scotiabank increased their target price 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. TD Securities increased their target price 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. Finally, 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.