Royal Bank of Canada Trims Brookfield (NYSE:BN) Target Price to $51.00

Brookfield (NYSE:BN) had its price target cut by Royal Bank of Canada from $53.00 to $51.00 in a research note published on Monday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. TheStreet raised shares of Brookfield from a c rating to a b rating in a research report on Thursday, February 8th. TD Securities boosted their price objective on shares of Brookfield from $61.00 to $62.00 and gave the stock an action list buy rating in a research note on Sunday, February 11th. CIBC increased their target price on Brookfield from $46.00 to $52.00 and gave the company an outperform rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets upped their price objective on Brookfield from $42.00 to $44.00 and gave the stock an outperform rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield currently has a consensus rating of Moderate Buy and an average target price of $47.25.

Brookfield Stock Performance

Shares of NYSE:BN opened at $41.06 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The firm has a market cap of $67.42 billion, a PE ratio of 66.23 and a beta of 1.49. The firm’s 50 day simple moving average is $40.81 and its 200-day simple moving average is $38.09. Brookfield has a one year low of $28.84 and a one year high of $43.17.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The company had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.12 EPS. Brookfield’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Brookfield will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. Brookfield’s dividend payout ratio is presently 51.61%.

Insider Transactions at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Institutional Trading of Brookfield

Several large investors have recently made changes to their positions in BN. Benjamin F. Edwards & Company Inc. lifted its position in Brookfield by 5.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,540 shares of the company’s stock valued at $316,000 after purchasing an additional 359 shares during the period. Triasima Portfolio Management inc. lifted its holdings in shares of Brookfield by 12.2% in the 1st quarter. Triasima Portfolio Management inc. now owns 885,814 shares of the company’s stock valued at $37,067,000 after buying an additional 96,580 shares during the period. UMB Bank n.a. boosted its stake in shares of Brookfield by 27.2% in the first quarter. UMB Bank n.a. now owns 5,510 shares of the company’s stock worth $231,000 after buying an additional 1,179 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Brookfield during the first quarter worth about $104,000. Finally, Chicago Partners Investment Group LLC raised its position in Brookfield by 1.6% during the first quarter. Chicago Partners Investment Group LLC now owns 294,002 shares of the company’s stock valued at $11,869,000 after acquiring an additional 4,500 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.