DORCHESTER WEALTH MANAGEMENT Co Sells 1,699 Shares of Brookfield Co. (NYSE:BN)

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in shares of Brookfield Co. (NYSE:BN) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,617 shares of the company’s stock after selling 1,699 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Brookfield were worth $1,945,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in Brookfield during the second quarter worth about $31,000. Family Firm Inc. bought a new stake in Brookfield in the 2nd quarter worth approximately $36,000. 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 valued at $44,000 after buying an additional 647 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Brookfield by 63.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after buying an additional 450 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN traded up $0.55 during midday trading on Thursday, reaching $54.60. The stock had a trading volume of 150,763 shares, compared to its average volume of 2,869,918. The firm’s 50 day moving average price is $50.90 and its 200-day moving average price is $45.82. The company has a market capitalization of $89.74 billion, a P/E ratio of 89.51 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $56.83.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. 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 firm posted $0.75 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts forecast that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.59%. Brookfield’s dividend payout ratio is presently 52.46%.

Wall Street Analyst Weigh In

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

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.