Brookfield’s (BN) Outperform Rating Reaffirmed at BMO Capital Markets

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

BN has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Scotiabank increased their price target on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. TD Securities upped their target price 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, JPMorgan Chase & Co. raised their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Down 1.7 %

Shares of NYSE BN opened at $56.79 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield has a 1 year low of $33.61 and a 1 year high of $60.20. The stock has a market capitalization of $93.52 billion, a P/E ratio of 120.83 and a beta of 1.53. The company has a 50-day moving average price of $53.47 and a 200-day moving average price of $47.75.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.56%. Brookfield’s payout ratio is currently 68.09%.

Institutional Trading of Brookfield

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the last quarter. Frisch Financial Group Inc. grew its stake in shares of Brookfield by 11.4% during the 3rd quarter. Frisch Financial Group Inc. now owns 7,458 shares of the company’s stock worth $396,000 after acquiring an additional 765 shares during the period. Prestige Wealth Management Group LLC increased its holdings in Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares during the last quarter. Guardian Wealth Management Inc. raised its stake in Brookfield by 1.0% in the 3rd quarter. Guardian Wealth Management Inc. now owns 57,912 shares of the company’s stock valued at $3,078,000 after acquiring an additional 564 shares during the period. Finally, Adalta Capital Management LLC lifted its holdings in Brookfield by 0.4% during the third quarter. Adalta Capital Management LLC now owns 172,588 shares of the company’s stock valued at $9,173,000 after purchasing an additional 685 shares during the last quarter. 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.