Brookfield (NYSE:BN) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Brookfield Corporation (NYSE:BN)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $38.30 and traded as high as $38.65. Brookfield shares last traded at $38.4370, with a volume of 8,037,752 shares changing hands.

Analyst Ratings Changes

BN has been the topic of several research reports. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotiabank restated an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. TD lifted their target price on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Finally, Scotia increased their price target on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Stock Down 0.6%

The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The stock has a market cap of $96.29 billion, a P/E ratio of 71.40 and a beta of 1.56. The firm has a 50-day simple moving average of $38.20 and a two-hundred day simple moving average of $42.58.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Equities research analysts expect that Brookfield Corporation will post 2.88 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s payout ratio is currently 50.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BN. Fortitude Family Office LLC acquired a new stake in Brookfield in the third quarter valued at approximately $26,000. Silicon Valley Capital Partners bought a new stake in shares of Brookfield during the second quarter worth $32,000. Kings Path Partners LLC bought a new stake in shares of Brookfield during the third quarter worth $35,000. Virginia Estate & Retirement Planning Advisors Inc. acquired a new position in shares of Brookfield during the third quarter worth $46,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock worth $50,000 after buying an additional 824 shares in 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 investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.