Bridgewater Associates LP Takes $27.74 Million Position in Brookfield Co. (NYSE:BN)

Bridgewater Associates LP bought a new position in Brookfield Co. (NYSE:BN) during the 4th quarter, Holdings Channel reports. The fund bought 482,873 shares of the company’s stock, valued at approximately $27,740,000.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in Brookfield in the fourth quarter valued at $973,591,000. Baillie Gifford & Co. boosted its stake in shares of Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after purchasing an additional 3,271,403 shares in the last quarter. Regents of The University of California purchased a new position in shares of Brookfield during the fourth quarter valued at about $154,140,000. Geode Capital Management LLC raised its stake in Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after buying an additional 1,930,218 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Brookfield by 51.9% in the fourth quarter. Bessemer Group Inc. now owns 4,839,267 shares of the company’s stock worth $278,016,000 after buying an additional 1,652,935 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BN shares. CIBC upped their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered their price target on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday. Scotiabank cut their price objective on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. Finally, TD Securities lifted their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.25.

Brookfield Price Performance

Shares of BN opened at $49.25 on Wednesday. The company has a market capitalization of $81.11 billion, a P/E ratio of 164.19 and a beta of 1.60. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm has a 50 day moving average of $53.79 and a 200 day moving average of $55.97.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, equities research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Friday, March 14th. Brookfield’s dividend payout ratio (DPR) 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.