Brookfield (NYSE:BN) Sees Large Volume Increase

Shares of Brookfield Co. (NYSE:BN) saw unusually-high trading volume on Wednesday . Approximately 5,058,233 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 3,099,072 shares.The stock last traded at $48.13 and had previously closed at $47.92.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Scotiabank boosted their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average target price of $50.84.

Brookfield Price Performance

The company’s 50-day moving average is $46.10 and its 200-day moving average is $43.22. The firm has a market cap of $77.50 billion, a price-to-earnings ratio of 77.30 and a beta of 1.52. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.68%. The ex-dividend date is Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

Insider Transactions at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Brookfield

Several hedge funds have recently modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in Brookfield by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock valued at $1,423,000 after buying an additional 1,833 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Brookfield by 1,049.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,181 shares of the company’s stock valued at $289,000 after acquiring an additional 6,556 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Brookfield by 3.3% during the fourth quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock worth $400,000 after purchasing an additional 314 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Brookfield in the fourth quarter worth $249,000. Finally, Private Advisor Group LLC increased its holdings in Brookfield by 13.0% in the fourth quarter. Private Advisor Group LLC now owns 14,873 shares of the company’s stock valued at $597,000 after purchasing an additional 1,713 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.