Brookfield (NYSE:BN) Price Target Raised to $59.00

Brookfield (NYSE:BN) had its target price increased by National Bankshares from $56.00 to $59.00 in a research report released on Wednesday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley restated an “overweight” rating and issued a $58.00 target price on shares of Brookfield in a research note on Tuesday, January 27th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. TD Securities raised their price target on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $54.70.

Brookfield Price Performance

BN opened at $45.22 on Wednesday. The firm has a market capitalization of $112.00 billion, a PE ratio of 125.61 and a beta of 1.57. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The business’s 50-day moving average is $46.48 and its two-hundred day moving average is $45.51. Brookfield has a 1 year low of $29.07 and a 1 year high of $49.56.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Research analysts anticipate that Brookfield will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently bought and sold shares of BN. Exchange Traded Concepts LLC acquired a new stake in Brookfield during the 4th quarter valued at approximately $27,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brookfield during the second quarter worth $32,000. Ameritas Advisory Services LLC acquired a new position in Brookfield during the second quarter valued at $33,000. Hilltop National Bank boosted its holdings in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Finally, New England Capital Financial Advisors LLC boosted its holdings in Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after purchasing an additional 251 shares during the last quarter. Institutional investors and hedge funds 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.