Brookfield (NYSE:BN) Price Target Raised to $75.00

Brookfield (NYSE:BN) had its price objective increased by TD Securities from $74.00 to $75.00 in a report released on Tuesday, Marketbeat reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on BN. Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. Scotiabank boosted their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. CIBC boosted 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Price Performance

Shares of Brookfield stock opened at $60.35 on Tuesday. The firm has a fifty day simple moving average of $58.42 and a 200-day simple moving average of $54.43. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. Brookfield has a 1-year low of $38.18 and a 1-year high of $62.78. The stock has a market capitalization of $99.33 billion, a price-to-earnings ratio of 128.41 and a beta of 1.57.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 1.00% and a return on equity of 3.74%. On average, sell-side analysts expect that Brookfield will post 3.83 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is 68.09%.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently made changes to their positions in BN. Vanguard Group Inc. increased its position in shares of Brookfield by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after purchasing an additional 974,533 shares in the last quarter. FIL Ltd increased its position in shares of Brookfield by 8.8% during the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock worth $1,169,912,000 after purchasing an additional 1,640,903 shares in the last quarter. Norges Bank acquired a new stake in shares of Brookfield during the 4th quarter worth about $973,591,000. CIBC Asset Management Inc increased its position in shares of Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after purchasing an additional 823,428 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position 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 worth $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.