Brookfield (NYSE:BN) Price Target Raised to $83.00

Brookfield (NYSE:BN) had its price target raised by JPMorgan Chase & Co. from $73.00 to $83.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

BN has been the topic of several other research reports. BMO Capital Markets boosted their price target on shares of Brookfield from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Scotiabank lifted their price objective on Brookfield from $69.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Cowen reissued a “buy” rating on shares of Brookfield in a research report on Friday, August 8th. The Goldman Sachs Group assumed coverage on Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $78.00 price target on the stock. Finally, National Bank Financial started coverage on Brookfield in a report on Tuesday, July 29th. They issued an “outperform” rating and a $82.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.70.

Brookfield Trading Up 0.9%

NYSE BN opened at $68.76 on Friday. The stock has a market cap of $113.40 billion, a P/E ratio of 159.91 and a beta of 1.75. Brookfield has a fifty-two week low of $43.61 and a fifty-two week high of $74.20. The stock has a 50 day simple moving average of $67.12 and a two-hundred day simple moving average of $60.65. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29.

Brookfield shares are scheduled to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly issued shares will be distributed to shareholders after the closing bell on Thursday, October 9th.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. On average, analysts forecast that Brookfield will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, September 12th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Friday, September 12th. Brookfield’s payout ratio is 83.72%.

Institutional Trading of Brookfield

Several institutional investors have recently bought and sold shares of BN. GAMMA Investing LLC raised its holdings in Brookfield by 6,011.4% in the first quarter. GAMMA Investing LLC now owns 119,600 shares of the company’s stock worth $6,268,000 after buying an additional 117,643 shares during the last quarter. Merit Financial Group LLC bought a new position in Brookfield in the 1st quarter valued at approximately $229,000. Fulton Bank N.A. purchased a new stake in Brookfield during the 1st quarter valued at $202,000. Procyon Advisors LLC increased its holdings in shares of Brookfield by 7.4% in the 1st quarter. Procyon Advisors LLC now owns 51,570 shares of the company’s stock worth $2,703,000 after purchasing an additional 3,558 shares in the last quarter. Finally, Chemistry Wealth Management LLC raised its stake in shares of Brookfield by 4.9% in the first quarter. Chemistry Wealth Management LLC now owns 264,948 shares of the company’s stock worth $13,886,000 after purchasing an additional 12,351 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.