Brokerages Set Brookfield Co. (NYSE:BN) PT at $53.31

Shares of Brookfield Co. (NYSE:BN) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $55.31.

A number of equities analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective 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 decreased their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday. Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Brookfield in the 2nd quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Brookfield in the second quarter worth $36,000. First Personal Financial Services bought a new stake in Brookfield in the 3rd quarter valued at $42,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Brookfield in the third quarter valued at approximately $42,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of BN opened at $56.79 on Tuesday. Brookfield has a one year low of $33.61 and a one year high of $60.20. The stock’s fifty day moving average is $53.47 and its 200-day moving average is $47.71. The firm has a market capitalization of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Brookfield Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.56%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

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.