Brookfield (NYSE:BN) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Brookfield (NYSE:BN) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. TD Securities increased their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. CIBC restated an “outperform” rating and set a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Finally, Wall Street Zen cut shares of Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Brookfield presently has an average rating of “Buy” and an average target price of $53.87.

Brookfield Stock Down 4.4%

NYSE:BN opened at $45.30 on Monday. The company’s 50-day simple moving average is $46.16 and its 200-day simple moving average is $45.26. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. Brookfield has a fifty-two week low of $29.07 and a fifty-two week high of $49.56. The stock has a market capitalization of $112.19 billion, a P/E ratio of 125.82 and a beta of 1.58.

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

Brookfield Dividend Announcement

The firm 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. 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 dividend payout ratio is presently 66.67%.

Institutional Investors Weigh In On Brookfield

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Brookfield in the second quarter worth about $1,040,160,000. Lone Pine Capital LLC acquired a new stake in shares of Brookfield during the 2nd quarter valued at about $347,683,000. Canada Pension Plan Investment Board increased its stake in shares of Brookfield by 132.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after purchasing an additional 3,727,628 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Brookfield in the 3rd quarter worth about $171,104,000. Finally, Picton Mahoney Asset Management purchased a new position in Brookfield during the second quarter worth approximately $140,555,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.