Brookfield (NYSE:BN) Given New $59.00 Price Target at TD Securities

Brookfield (NYSE:BN) had its target price upped by equities research analysts at TD Securities from $57.00 to $59.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target would indicate a potential upside of 34.72% from the stock’s current price.

A number of other brokerages have also recently issued reports on BN. Royal Bank Of Canada increased their price objective on Brookfield from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Zacks Research cut shares of Brookfield from a “strong-buy” rating to a “hold” rating in a report on Wednesday. National Bank Financial started coverage on Brookfield in a research report on Tuesday, July 29th. They issued an “outperform” rating and a $54.67 target price on the stock. CIBC reissued an “outperform” rating on shares of Brookfield in a research report on Friday. Finally, The Goldman Sachs Group began coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They set a “buy” rating and a $52.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Buy” and a consensus price target of $53.47.

Brookfield Stock Performance

Shares of NYSE:BN traded up $0.01 during mid-day trading on Friday, reaching $43.79. The company had a trading volume of 3,331,867 shares, compared to its average volume of 3,841,588. The firm has a market cap of $108.39 billion, a price-to-earnings ratio of 153.09 and a beta of 1.73. The company’s 50-day moving average price is $45.68 and its 200-day moving average price is $42.76. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. Brookfield has a one year low of $29.07 and a one year high of $49.47.

Institutional Trading of Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors increased its position in shares of Brookfield by 2.4% in the 3rd quarter. Capital World Investors now owns 68,313,662 shares of the company’s stock valued at $4,685,103,000 after acquiring an additional 1,624,085 shares during the period. Vanguard Group Inc. grew its holdings in Brookfield by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock valued at $3,186,707,000 after buying an additional 988,419 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Brookfield by 1.6% during the 3rd quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock valued at $3,487,338,000 after buying an additional 799,440 shares during the period. Pershing Square Capital Management L.P. increased its stake in Brookfield by 17.5% during the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after acquiring an additional 6,111,593 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in shares of Brookfield by 1.5% in the 1st quarter. TD Asset Management Inc now owns 24,584,311 shares of the company’s stock valued at $1,286,395,000 after purchasing an additional 354,171 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.