Brookfield Corporation (NYSE:BN) Receives Average Rating of “Buy” from Analysts

Shares of Brookfield Corporation (NYSE:BN) have been given a consensus recommendation of “Buy” by the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $56.6364.

Several research firms have weighed in on BN. Scotiabank reaffirmed an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, National Bank Financial lifted their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently bought and sold shares of the company. Partners Value Investments L.P. raised its holdings in Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after purchasing an additional 60,468,651 shares in the last quarter. Dodge & Cox purchased a new position in shares of Brookfield during the 4th quarter worth approximately $1,894,354,000. Royal Bank of Canada lifted its holdings in shares of Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. Vanguard Group Inc. boosted its stake in shares of Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares in the last quarter. Finally, Capital World Investors grew its holdings in Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 0.2%

Shares of NYSE:BN opened at $44.51 on Thursday. Brookfield has a 52-week low of $37.93 and a 52-week high of $49.56. The stock has a market cap of $109.13 billion, a P/E ratio of 87.27 and a beta of 1.54. The business has a fifty day moving average of $43.73 and a two-hundred day moving average of $44.05. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s payout ratio is presently 54.90%.

Brookfield Company Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.