BMO Capital Markets Reaffirms “Outperform” Rating for Brookfield (NYSE:BN)

BMO Capital Markets reissued their outperform rating on shares of Brookfield (NYSE:BN) in a research report report published on Friday,Benzinga reports. BMO Capital Markets currently has a $62.00 target price on the stock, up from their previous target price of $50.00.

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

Brookfield Stock Performance

NYSE BN opened at $56.11 on Friday. The company has a market cap of $92.40 billion, a P/E ratio of 119.39 and a beta of 1.53. Brookfield has a 1-year low of $33.61 and a 1-year high of $60.20. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock has a 50-day moving average of $53.65 and a two-hundred day moving average of $47.86.

Brookfield Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. Brookfield’s dividend payout ratio is currently 68.09%.

Hedge Funds Weigh In On Brookfield

Several hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its stake in Brookfield by 9.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,369 shares of the company’s stock valued at $476,000 after acquiring an additional 946 shares in the last quarter. Blair William & Co. IL grew its stake in Brookfield by 0.7% during the 1st quarter. Blair William & Co. IL now owns 114,275 shares of the company’s stock worth $4,785,000 after buying an additional 835 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in Brookfield by 35.8% during the 1st quarter. Tocqueville Asset Management L.P. now owns 53,545 shares of the company’s stock worth $2,242,000 after buying an additional 14,120 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Brookfield by 45.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 589,874 shares of the company’s stock worth $24,695,000 after buying an additional 184,720 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Brookfield in the first quarter valued at approximately $2,705,000. 61.60% of the stock is currently owned by hedge funds and other 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.