Brookfield (NYSE:BN) Sets New 52-Week High – Still a Buy?

Brookfield Corporation (NYSE:BN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $63.37 and last traded at $63.39, with a volume of 116019 shares trading hands. The stock had previously closed at $62.63.

Analyst Ratings Changes

Several equities analysts recently commented on BN shares. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada started coverage on shares of Brookfield in a research note on Wednesday, June 18th. They set an “outperform” rating and a $81.00 price objective for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Brookfield in a research note on Monday, May 19th. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. Finally, Scotiabank cut their price target on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $66.13.

Brookfield Trading Up 2.7%

The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.30. The firm has a market cap of $106.05 billion, a PE ratio of 229.82 and a beta of 1.66. The stock’s 50 day simple moving average is $58.45 and its 200 day simple moving average is $56.32.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. On average, sell-side analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.09 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is 128.57%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors have recently made changes to their positions in BN. QRG Capital Management Inc. purchased a new stake in shares of Brookfield in the 4th quarter valued at $234,000. SVB Wealth LLC purchased a new stake in Brookfield during the 4th quarter valued at $210,000. Fisher Asset Management LLC boosted its position in Brookfield by 2.7% during the 4th quarter. Fisher Asset Management LLC now owns 9,873 shares of the company’s stock valued at $567,000 after buying an additional 255 shares during the period. US Bancorp DE boosted its position in Brookfield by 4.6% during the 4th quarter. US Bancorp DE now owns 42,205 shares of the company’s stock valued at $2,425,000 after buying an additional 1,855 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in Brookfield by 55.4% during the 4th quarter. Jones Financial Companies Lllp now owns 8,263 shares of the company’s stock valued at $475,000 after buying an additional 2,945 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

About Brookfield

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.