Brookfield (NYSE:BN) Given Outperform Rating at BMO Capital Markets

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

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

Brookfield Stock Performance

NYSE BN traded down $1.01 on Friday, hitting $56.79. 2,406,514 shares of the company traded hands, compared to its average volume of 2,786,896. The business’s 50 day moving average price is $53.47 and its 200-day moving average price is $47.65. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20. The company has a market capitalization of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid 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 yield of 0.56%. Brookfield’s payout ratio is currently 68.09%.

Institutional Investors Weigh In On Brookfield

Several large investors have recently added to or reduced their stakes in the stock. Nicholas Hoffman & Company LLC. increased its stake in Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after acquiring an additional 257 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of Brookfield by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares during the period. Finally, Caprock Group LLC boosted its position in shares of Brookfield by 2.5% during the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after buying an additional 300 shares during the period. 61.60% of the stock is 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.