Brookfield (NYSE:BN) Price Target Raised to $50.00 at Scotiabank

Brookfield (NYSE:BNFree Report) had its target price increased by Scotiabank from $49.00 to $50.00 in a report issued on Friday morning, Marketbeat.com reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities research analysts also recently commented on BN. Canaccord Genuity Group lifted their target price on shares of Brookfield from $37.74 to $41.00 in a research report on Wednesday, December 20th. Royal Bank of Canada boosted their price target on shares of Brookfield from $44.00 to $52.00 and gave the company an outperform rating in a research note on Friday, January 5th. BMO Capital Markets reduced their target price on shares of Brookfield from $45.00 to $42.00 and set an outperform rating for the company in a research note on Friday, November 10th. TD Securities increased their price target on shares of Brookfield from $55.00 to $61.00 and gave the company an action list buy rating in a research report on Monday, February 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $48.00 to $52.00 and gave the company an overweight rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Brookfield currently has an average rating of Moderate Buy and a consensus target price of $47.45.

Get Our Latest Stock Report on BN

Brookfield Stock Performance

NYSE BN opened at $40.96 on Friday. Brookfield has a 52-week low of $28.25 and a 52-week high of $41.60. 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 50-day moving average of $39.16 and a 200-day moving average of $35.18. The stock has a market cap of $67.17 billion, a PE ratio of 66.07 and a beta of 1.50.

Brookfield (NYSE:BNGet Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm had revenue of $24.52 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the firm earned $1.12 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Brookfield will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, March 13th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, March 12th. Brookfield’s dividend payout ratio is 45.16%.

Insider Buying and Selling at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 562,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $12.06, for a total value of $6,783,750.00. Following the transaction, the director now owns 16,742,168 shares in the company, valued at $201,910,546.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brookfield news, major shareholder Gp Ltd Bcp sold 132,700 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $2.47, for a total transaction of $327,769.00. Following the completion of the transaction, the insider now owns 30,368,482 shares of the company’s stock, valued at $75,010,150.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ocm Growth Holdings Llc sold 562,500 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $12.06, for a total value of $6,783,750.00. Following the transaction, the director now directly owns 16,742,168 shares of the company’s stock, valued at approximately $201,910,546.08. The disclosure for this sale can be found here. Insiders have sold 6,545,283 shares of company stock worth $22,555,512 over the last ninety days. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Brookfield

Large investors have recently modified their holdings of the stock. FinTrust Capital Advisors LLC bought a new stake in Brookfield in the 3rd quarter worth about $25,000. Sunbelt Securities Inc. lifted its position in shares of Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Brookfield in the 3rd quarter worth approximately $30,000. Ronald Blue Trust Inc. lifted its holdings in Brookfield by 102.6% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,021 shares of the company’s stock worth $34,000 after purchasing an additional 517 shares in the last quarter. Finally, Castleview Partners LLC purchased a new stake in shares of Brookfield during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 58.22% of the company’s stock.

About Brookfield

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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.

Further Reading

Analyst Recommendations for Brookfield (NYSE:BN)

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