Heritage Wealth Advisors Sells 94,058 Shares of Brookfield Co. (NYSE:BN)

Heritage Wealth Advisors lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,071,739 shares of the company’s stock after selling 94,058 shares during the quarter. Brookfield makes up about 3.1% of Heritage Wealth Advisors’ investment portfolio, making the stock its 8th biggest position. Heritage Wealth Advisors owned 0.07% of Brookfield worth $61,571,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Compass Planning Associates Inc acquired a new stake in Brookfield during the fourth quarter worth about $30,000. FSA Wealth Management LLC acquired a new position in shares of Brookfield during the 3rd quarter valued at $42,000. Prestige Wealth Management Group LLC lifted its stake in shares of Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Brookfield during the 4th quarter valued at about $48,000. Finally, Continuum Advisory LLC acquired a new position in Brookfield during the 3rd quarter worth approximately $55,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BN. Scotiabank increased their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Morgan Stanley began coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. TD Securities raised 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. Finally, CIBC boosted 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Brookfield Stock Up 0.0 %

NYSE:BN opened at $55.37 on Wednesday. The stock has a 50-day simple moving average of $57.08 and a 200 day simple moving average of $56.15. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The company has a market capitalization of $91.18 billion, a price-to-earnings ratio of 184.57 and a beta of 1.65. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Sell-side analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

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.