Scotiabank Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price objective boosted by Scotiabank from $65.00 to $69.00 in a report published on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

A number of other brokerages also recently issued reports on BN. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday. Finally, TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

BN opened at $56.11 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a market capitalization of $92.40 billion, a PE ratio of 119.39 and a beta of 1.53. The stock’s 50 day moving average price is $53.65 and its 200-day moving average price is $47.86. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20.

Brookfield Announces Dividend

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

Institutional Investors Weigh In On Brookfield

Several institutional investors and hedge funds have recently made changes to their positions in BN. Blue Trust Inc. increased its holdings 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 buying an additional 272 shares in the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield during the second quarter valued at approximately $31,000. First Personal Financial Services bought a new position in Brookfield during the third quarter valued at approximately $42,000. FSA Wealth Management LLC purchased a new stake in Brookfield in the third quarter worth approximately $42,000. Finally, Prestige Wealth Management Group LLC grew its position 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 purchasing an additional 500 shares during the period. 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.