Hikari Power Ltd Decreases Position in Brookfield Co. (NYSE:BN)

Hikari Power Ltd decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 5,000 shares during the quarter. Hikari Power Ltd’s holdings in Brookfield were worth $401,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC purchased a new stake in Brookfield in the third quarter valued at approximately $25,000. Sunbelt Securities Inc. lifted its stake in Brookfield by 4,670.6% in the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares during the last quarter. Allworth Financial LP raised its stake in shares of Brookfield by 256.2% during the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after purchasing an additional 638 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Brookfield during the third quarter worth approximately $30,000. Finally, Ronald Blue Trust Inc. raised its stake in shares of Brookfield by 102.6% during the third quarter. Ronald Blue Trust Inc. now owns 1,021 shares of the company’s stock worth $34,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE:BN traded down $0.27 during mid-day trading on Wednesday, hitting $38.72. 4,462,791 shares of the company’s stock traded hands, compared to its average volume of 2,815,534. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The company has a market cap of $63.58 billion, a PE ratio of 62.45 and a beta of 1.49. The firm’s 50 day simple moving average is $40.87 and its 200 day simple moving average is $37.53. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $43.17.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.12 earnings per share. Sell-side analysts expect that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s payout ratio is presently 51.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada restated an “outperform” rating and set a $53.00 price target on shares of Brookfield in a research note on Friday, April 12th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. BMO Capital Markets upped their price objective on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Finally, Scotiabank upped their price objective on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.45.

Insiders Place Their Bets

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.00% of the stock is currently owned by company insiders.

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.