Brookfield (NYSE:BN) Stock Price Expected to Rise, CIBC Analyst Says

Brookfield (NYSE:BN) had its price objective lifted by CIBC from $68.00 to $70.00 in a research report report published on Thursday morning,Benzinga reports. CIBC currently has an outperformer rating on the stock.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Two 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, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.06.

Brookfield Stock Performance

Shares of NYSE:BN opened at $59.52 on Thursday. The firm has a market capitalization of $97.95 billion, a PE ratio of 126.63 and a beta of 1.56. Brookfield has a 12 month low of $38.18 and a 12 month high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business has a 50-day moving average of $58.21 and a two-hundred day moving average of $52.96.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.54%. Brookfield’s dividend payout ratio is presently 68.09%.

Hedge Funds Weigh In On Brookfield

Several institutional investors and hedge funds have recently made changes to their positions in BN. Factory Mutual Insurance Co. increased its stake in shares of Brookfield by 34.5% in the fourth quarter. Factory Mutual Insurance Co. now owns 374,000 shares of the company’s stock worth $21,486,000 after buying an additional 96,000 shares during the last quarter. Caprock Group LLC increased its position in shares of Brookfield by 41.6% in the 4th quarter. Caprock Group LLC now owns 17,466 shares of the company’s stock worth $1,003,000 after purchasing an additional 5,134 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in shares of Brookfield in the 4th quarter worth about $357,000. Emeth Value Capital LLC acquired a new stake in shares of Brookfield in the 4th quarter valued at about $23,001,000. Finally, Forsta AP Fonden lifted its position in shares of Brookfield by 4.9% during the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company’s stock worth $16,499,000 after purchasing an additional 13,300 shares during the last quarter. 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.