Brookfield’s (BN) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Brookfield (NYSE:BN) in a research report report published on Friday morning,Benzinga reports. They currently have a $62.00 target price on the stock, up from their previous target price of $50.00.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. TD Securities increased their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Scotiabank lifted their target price on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Two equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Trading Down 1.7 %

NYSE BN opened at $56.79 on Friday. The company has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. Brookfield has a twelve month low of $33.61 and a twelve month high of $60.20. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business’s fifty day moving average is $53.47 and its 200 day moving average is $47.75.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Capital World Investors increased its stake in Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. Finally, EdgePoint Investment Group Inc. boosted its position in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

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.