Tocqueville Asset Management L.P. Grows Stock Position in Brookfield Co. (NYSE:BN)

Tocqueville Asset Management L.P. raised its holdings in Brookfield Co. (NYSE:BN) by 7.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 55,442 shares of the company’s stock after acquiring an additional 3,887 shares during the period. Tocqueville Asset Management L.P.’s holdings in Brookfield were worth $3,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after buying an additional 196,790 shares during the period. Toronto Dominion Bank raised its position in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Brookfield by 11.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,507,113 shares of the company’s stock valued at $373,527,000 after acquiring an additional 668,630 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BN shares. TD Securities upped their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. CIBC increased their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank lifted their price target 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. Finally, Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Up 0.8 %

NYSE BN opened at $52.19 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The business has a 50 day moving average price of $57.28 and a two-hundred day moving average price of $55.91. The stock has a market cap of $85.90 billion, a PE ratio of 173.96 and a beta of 1.65.

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

Brookfield Dividend Announcement

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