Brokerages Set Brookfield Corporation (NYSE:BN) Target Price at $53.87

Brookfield Corporation (NYSE:BN) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $53.8667.

A number of analysts have recently commented on BN shares. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a research report on Thursday, December 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 price target (up previously from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, December 27th.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $47.30 on Friday. The firm has a 50 day simple moving average of $46.12 and a 200-day simple moving average of $45.12. Brookfield has a twelve month low of $29.07 and a twelve month high of $49.56. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $117.15 billion, a PE ratio of 131.39 and a beta of 1.58.

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

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders 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 yield of 0.5%. Brookfield’s payout ratio is currently 66.67%.

Hedge Funds Weigh In On Brookfield

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

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.