Maple Capital Management Inc. Acquires New Shares in Brookfield Co. (NYSE:BN)

Maple Capital Management Inc. acquired a new stake in shares of Brookfield Co. (NYSE:BN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,267 shares of the company’s stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC acquired a new position in Brookfield during the 2nd quarter worth $31,000. Family Firm Inc. acquired a new position in Brookfield during the 2nd quarter worth $36,000. Salem Investment Counselors Inc. acquired a new position in Brookfield during the 1st quarter worth $42,000. Finally, GAMMA Investing LLC boosted its position in Brookfield by 161.8% during the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock worth $44,000 after acquiring an additional 647 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BN. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets boosted their price target on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Scotiabank boosted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Down 0.4 %

BN opened at $55.19 on Tuesday. The stock’s fifty day moving average is $50.34 and its 200-day moving average is $45.56. The company has a market capitalization of $90.71 billion, a PE ratio of 90.82 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a one year low of $28.84 and a one year high of $56.83.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, equities analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

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.