Royal Bank of Canada Reaffirms Outperform Rating for Brookfield (NYSE:BN)

Royal Bank of Canada reaffirmed their outperform rating on shares of Brookfield (NYSE:BN) in a report released on Friday, Benzinga reports. Royal Bank of Canada currently has a $53.00 price target on the stock.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets increased their price objective on shares of Brookfield from $42.00 to $44.00 and gave the company an outperform rating in a research note on Friday, February 9th. TD Securities raised 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. Canaccord Genuity Group upped their target price on Brookfield from $41.00 to $42.50 and gave the company a hold rating in a research note on Friday, February 9th. CIBC raised their price target on Brookfield from $46.00 to $52.00 and gave the stock an outperform rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield from $48.00 to $52.00 and gave the company an overweight rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $47.45.

Brookfield Trading Down 0.8 %

NYSE:BN opened at $38.99 on Friday. Brookfield has a 12-month low of $28.84 and a 12-month high of $43.17. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $40.89 and its 200-day simple moving average is $37.48. The firm has a market cap of $64.02 billion, a P/E ratio of 62.89 and a beta of 1.49.

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

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 12th. This is an increase from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.82%. Brookfield’s dividend payout ratio (DPR) is currently 51.61%.

Insider Activity at Brookfield

In other news, 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 shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BN. Eldred Rock Partners LLC acquired a new position in shares of Brookfield during the fourth quarter valued at $9,868,000. Private Trust Co. NA grew its position in Brookfield by 30.5% in the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after purchasing an additional 480 shares during the last quarter. Salvus Wealth Management LLC increased its stake in shares of Brookfield by 12.2% in the third quarter. Salvus Wealth Management LLC now owns 110,110 shares of the company’s stock valued at $3,443,000 after purchasing an additional 12,007 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Brookfield by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after buying an additional 273,474 shares during the period. Finally, Northside Capital Management LLC bought a new position in Brookfield in the 4th quarter worth approximately $229,000. 61.60% of the stock is currently owned by institutional investors.

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.