Scotiabank Cuts Brookfield (NYSE:BN) Price Target to $48.50

Brookfield (NYSE:BN) had its price objective reduced by Scotiabank from $52.00 to $48.50 in a research note released on Wednesday morning, MarketBeat reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other analysts have also recently weighed in on BN. National Bank Financial raised their price target on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. BMO Capital Markets lifted their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada upped their price target on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.20.

Brookfield Trading Down 1.7%

Shares of NYSE BN opened at $38.99 on Wednesday. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The stock has a market capitalization of $95.51 billion, a P/E ratio of 79.03 and a beta of 1.58. Brookfield has a 1-year low of $29.07 and a 1-year high of $49.56. The business has a fifty day moving average price of $43.91 and a 200 day moving average price of $45.25.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. Equities research analysts expect that Brookfield will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a $0.07 dividend. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is 57.14%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Brookfield by 4.1% during the second quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock valued at $268,000 after purchasing an additional 172 shares during the period. Truvestments Capital LLC boosted its position in Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Savant Capital LLC lifted its stake in shares of Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after purchasing an additional 226 shares during the period. State of Wyoming boosted its holdings in Brookfield by 7.8% during the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after buying an additional 240 shares in the last quarter. Finally, Manitou Investment Management Ltd. grew its position in Brookfield by 0.4% during the third quarter. Manitou Investment Management Ltd. now owns 56,337 shares of the company’s stock valued at $3,864,000 after buying an additional 241 shares during the period. Institutional investors and hedge funds 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.