Brookfield (NYSE:BN) Hits New 1-Year High at $52.50

Brookfield Co. (NYSE:BN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $52.50 and last traded at $52.50, with a volume of 298 shares. The stock had previously closed at $52.18.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent research reports. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets lifted their price objective on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Scotiabank increased their price target on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Up 0.5 %

The company has a market capitalization of $86.19 billion, a P/E ratio of 85.54 and a beta of 1.53. 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 firm has a fifty day simple moving average of $47.46 and a 200-day simple moving average of $43.89.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) 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 business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $0.75 EPS. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be given a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.61%. Brookfield’s dividend payout ratio is currently 52.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Fortis Group Advisors LLC grew its position in Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Blue Trust Inc. increased its position in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Brookfield in the second quarter valued at about $31,000. Family Firm Inc. acquired a new position in Brookfield during the second quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. bought a new position in Brookfield in the first quarter valued at approximately $42,000. 61.60% of the stock is currently owned by institutional investors.

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.