Brookfield (NYSE:BN) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Brookfield (NYSE:BN) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $62.00 price objective on the stock, up from their previous price objective of $50.00.

A number of other analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Scotiabank boosted their price target on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lowered their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Trading Down 1.7 %

Shares of NYSE BN traded down $1.01 during trading hours on Friday, reaching $56.79. The stock had a trading volume of 2,406,514 shares, compared to its average volume of 2,786,896. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. The business’s fifty day moving average price is $53.47 and its two-hundred day moving average price is $47.65. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is presently 68.09%.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in Brookfield in the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in Brookfield in the 2nd quarter valued at about $36,000. First Personal Financial Services acquired a new stake in Brookfield in the 3rd quarter valued at about $42,000. Finally, FSA Wealth Management LLC acquired a new stake in Brookfield in the 3rd quarter valued at about $42,000. 61.60% of the stock is owned by institutional investors and hedge funds.

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.