EverSource Wealth Advisors LLC Trims Holdings in Brookfield Co. (NYSE:BN)

EverSource Wealth Advisors LLC reduced its stake in shares of Brookfield Co. (NYSE:BN) by 43.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,871 shares of the company’s stock after selling 1,437 shares during the period. EverSource Wealth Advisors LLC’s holdings in Brookfield were worth $107,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BN. Thrivent Financial for Lutherans acquired a new stake in Brookfield during the 3rd quarter worth approximately $223,000. Pathstone Holdings LLC increased its position in Brookfield by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 97,293 shares of the company’s stock worth $5,171,000 after purchasing an additional 1,929 shares in the last quarter. Caprock Group LLC increased its position in Brookfield by 2.5% during the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares in the last quarter. Verity & Verity LLC acquired a new stake in Brookfield during the 3rd quarter worth approximately $242,000. Finally, PNC Financial Services Group Inc. increased its position in Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank increased their target price on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Morgan Stanley initiated coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. Finally, TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Performance

BN stock opened at $52.19 on Wednesday. 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 stock has a market capitalization of $85.90 billion, a price-to-earnings ratio of 173.96 and a beta of 1.65. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The stock’s fifty day moving average is $57.28 and its two-hundred day moving average is $55.91.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating 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%. On average, research analysts predict that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

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.