Opal Wealth Advisors LLC Sells 639 Shares of Brookfield Co. (NYSE:BN)

Opal Wealth Advisors LLC cut its holdings in shares of Brookfield Co. (NYSE:BN) by 12.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,625 shares of the company’s stock after selling 639 shares during the period. Opal Wealth Advisors LLC’s holdings in Brookfield were worth $246,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Brookfield by 1.9% during the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the last quarter. Capital World Investors lifted its stake in shares of Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after acquiring an additional 299,029 shares during the last quarter. Cooke & Bieler LP lifted its stake in shares of Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after acquiring an additional 269,813 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Brookfield by 3.7% in the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock valued at $134,629,000 after acquiring an additional 113,241 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

NYSE BN opened at $54.71 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock has a fifty day simple moving average of $49.89 and a 200 day simple moving average of $45.31. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $54.99. The company has a market capitalization of $89.92 billion, a price-to-earnings ratio of 89.69 and a beta of 1.54.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $0.75 EPS. The business’s revenue was down 2.6% compared to the same quarter last year. Sell-side analysts expect that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.58%. Brookfield’s payout ratio is currently 52.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on BN. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. TD Securities increased their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Scotiabank increased their price target on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. BMO Capital Markets increased their price objective on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.