Brookfield (NYSE:BN) Given New $65.00 Price Target at JPMorgan Chase & Co.

Brookfield (NYSE:BN) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $56.00 to $65.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 52.83% from the stock’s current price.

Several other brokerages have also issued reports on BN. BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. TD increased their price objective on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Scotia boosted their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.70.

Brookfield Price Performance

Brookfield stock traded down $0.44 during midday trading on Tuesday, reaching $42.53. The company’s stock had a trading volume of 803,339 shares, compared to its average volume of 5,118,704. Brookfield has a 52 week low of $35.61 and a 52 week high of $49.56. 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 business has a 50-day moving average price of $38.22 and a 200-day moving average price of $42.44. The stock has a market cap of $104.31 billion, a PE ratio of 77.22 and a beta of 1.53.

Brookfield (NYSE:BN) last issued 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. The firm had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. On average, sell-side analysts predict that Brookfield will post 2.88 EPS for the current year.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently made changes to their positions in the stock. Bank of Nova Scotia lifted its stake 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 valued at $621,443,000 after buying an additional 1,575,668 shares in the last quarter. Madison Asset Management LLC acquired a new position in shares of Brookfield during the second quarter valued at about $55,655,000. WCM Investment Management LLC increased its position in shares of Brookfield by 454.4% during the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock worth $42,740,000 after acquiring an additional 904,701 shares in the last quarter. Nykredit A S bought a new stake in shares of Brookfield during the second quarter worth about $23,546,000. Finally, TD Waterhouse Canada Inc. increased its position in shares of Brookfield by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock worth $522,741,000 after acquiring an additional 495,666 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

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.