Franklin Resources Inc. Reduces Stock Position in Brookfield Corporation $BN

Franklin Resources Inc. trimmed its position in shares of Brookfield Corporation (NYSE:BN) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 692,256 shares of the company’s stock after selling 50,220 shares during the quarter. Franklin Resources Inc.’s holdings in Brookfield were worth $42,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BN. Hilltop National Bank purchased a new stake in Brookfield during the second quarter valued at $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Brookfield during the 2nd quarter valued at about $33,000. Financial Gravity Companies Inc. purchased a new stake in shares of Brookfield during the 2nd quarter valued at about $51,000. Salomon & Ludwin LLC bought a new position in shares of Brookfield in the 2nd quarter worth approximately $62,000. Finally, Brooklyn Investment Group purchased a new position in shares of Brookfield in the first quarter worth approximately $54,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Trading Up 2.1%

Shares of BN stock opened at $46.08 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $114.04 billion, a price-to-earnings ratio of 160.74 and a beta of 1.73. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.47. The stock’s 50-day moving average price is $45.51 and its 200-day moving average price is $43.27.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Morgan Stanley set a $54.00 target price on Brookfield and gave the stock an “overweight” rating in a report on Monday, October 13th. National Bank Financial assumed coverage on Brookfield in a report on Tuesday, July 29th. They set an “outperform” rating and a $54.67 price target for the company. Wall Street Zen cut Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, National Bankshares set a $54.67 price objective on Brookfield and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $53.47.

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.