Brookfield (NYSE:BN) Price Target Raised to $69.00

Brookfield (NYSE:BN) had its price objective raised by Scotiabank from $65.00 to $69.00 in a research note released on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other research firms have also recently weighed in on BN. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Performance

Brookfield stock opened at $56.79 on Friday. 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 P/E ratio of 120.83 and a beta of 1.53. Brookfield has a 1-year low of $33.61 and a 1-year high of $60.20. The firm has a 50-day moving average of $53.47 and a 200-day moving average of $47.75.

Brookfield Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased its stake in shares of Brookfield by 9.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,369 shares of the company’s stock valued at $476,000 after purchasing an additional 946 shares in the last quarter. Blair William & Co. IL raised its stake in Brookfield by 0.7% during the first quarter. Blair William & Co. IL now owns 114,275 shares of the company’s stock valued at $4,785,000 after buying an additional 835 shares during the last quarter. Tocqueville Asset Management L.P. boosted its holdings in Brookfield by 35.8% in the first quarter. Tocqueville Asset Management L.P. now owns 53,545 shares of the company’s stock worth $2,242,000 after acquiring an additional 14,120 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Brookfield by 45.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 589,874 shares of the company’s stock worth $24,695,000 after acquiring an additional 184,720 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Brookfield during the first quarter valued at $2,705,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.