Brookfield (NYSE:BN) Sets New 52-Week High – Here’s Why

Brookfield Corporation (NYSE:BN) hit a new 52-week high on Tuesday . The company traded as high as $49.47 and last traded at $49.5480, with a volume of 2463354 shares changing hands. The stock had previously closed at $48.81.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BN. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Morgan Stanley set a $54.00 price target on Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. TD Securities upped their price target on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.87.

Brookfield Stock Up 0.8%

The company has a market cap of $121.79 billion, a P/E ratio of 136.64 and a beta of 1.58. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. The company has a fifty day moving average of $45.87 and a 200 day moving average of $44.77.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. On average, research analysts anticipate that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hilltop National Bank purchased a new stake in shares of Brookfield during the second quarter worth about $30,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Brookfield during the 2nd quarter valued at approximately $32,000. Ameritas Advisory Services LLC purchased a new position in shares of Brookfield in the second quarter valued at $33,000. First Horizon Corp bought a new stake in Brookfield in the third quarter worth $40,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.