Brookfield (NYSE:BN) Price Target Raised to $69.00

Brookfield (NYSE:BN) had its target price boosted by Scotiabank from $65.00 to $69.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Keefe, Bruyette & Woods raised their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. TD Securities boosted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Price Performance

Shares of NYSE BN opened at $56.11 on Friday. The stock has a fifty day moving average of $53.65 and a 200-day moving average of $47.86. The stock has a market cap of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield has a fifty-two week low of $33.61 and a fifty-two week high of $60.20.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.57%. Brookfield’s payout ratio is 68.09%.

Institutional Investors Weigh In On Brookfield

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its stake in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC bought a new position in shares of Brookfield in the second quarter worth approximately $31,000. Family Firm Inc. purchased a new position in shares of Brookfield in the second quarter worth $36,000. First Personal Financial Services purchased a new position in shares of Brookfield in the third quarter worth $42,000. Finally, FSA Wealth Management LLC bought a new stake in Brookfield during the 3rd quarter valued at $42,000. 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.