Brookfield (NYSE:BN) Reaches New 1-Year Low – Here’s Why

Brookfield Corporation (NYSE:BN) shares reached a new 52-week low on Wednesday. The company traded as low as $35.61 and last traded at $35.7770, with a volume of 3,579,276 shares trading hands. The stock had previously closed at $36.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. TD boosted their target price on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. Morgan Stanley set a $59.00 price objective on Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Scotia upped their target price on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Stock Up 2.5%

The stock’s 50 day moving average price is $39.37 and its 200-day moving average price is $42.43. The company has a market cap of $90.31 billion, a PE ratio of 66.97 and a beta of 1.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. On average, analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio is 50.91%.

Hedge Funds Weigh In On Brookfield

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Manhattan CO. LLC. raised its holdings in Brookfield by 47.5% in the 4th quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock worth $1,093,985,000 after acquiring an additional 7,662,565 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after buying an additional 1,575,668 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield by 1.8% during the second quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock valued at $595,676,000 after buying an additional 248,479 shares during the period. Corient Private Wealth LLC grew its position in Brookfield by 40.1% during the fourth quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock valued at $224,571,000 after buying an additional 1,399,216 shares during the period. Finally, Bamco Inc. NY increased its holdings in Brookfield by 51.4% during the fourth quarter. Bamco Inc. NY now owns 3,635,917 shares of the company’s stock valued at $166,852,000 after buying an additional 1,233,637 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.