Brookfield (NYSE:BN) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Brookfield Corporation (NYSE:BN) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $42.47 and traded as low as $41.24. Brookfield shares last traded at $41.7330, with a volume of 4,631,565 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BN shares. Zacks Research lowered Brookfield from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Scotia upped their target price on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. TD lifted their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Finally, Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Stock Performance

The company has a market capitalization of $101.55 billion, a P/E ratio of 75.30 and a beta of 1.53. The firm has a 50 day moving average price of $38.19 and a two-hundred day moving average price of $42.45. 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 earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. On average, research analysts expect that Brookfield Corporation will post 2.88 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, September 14th. Brookfield’s payout ratio is currently 50.91%.

Institutional Investors Weigh In On Brookfield

Several large investors have recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Brookfield during the 3rd quarter valued at about $26,000. Silicon Valley Capital Partners bought a new stake in Brookfield during the second quarter worth about $32,000. Kings Path Partners LLC bought a new stake in Brookfield during the third quarter worth about $35,000. 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. Finally, Virginia Estate & Retirement Planning Advisors Inc. acquired a new stake in shares of Brookfield during the third quarter worth approximately $46,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.