Brokerages Set Brookfield Co. (NYSE:BN) Target Price at $55.31

Shares of Brookfield Co. (NYSE:BN) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, 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 12 month price objective among brokers that have covered the stock in the last year is $55.31.

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities raised their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Scotiabank raised their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th.

Institutional Trading of Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after buying an additional 1,505,372 shares during the period. Toronto Dominion Bank lifted its stake in Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Brookfield by 4,149.3% in the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock valued at $41,263,000 after buying an additional 758,076 shares during the period. Finally, Bamco Inc. NY lifted its stake in Brookfield by 62.6% in the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock valued at $103,614,000 after buying an additional 750,726 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Trading Down 1.1 %

NYSE:BN opened at $59.16 on Friday. Brookfield has a twelve month low of $35.66 and a twelve month high of $62.44. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average price of $56.23 and a two-hundred day moving average price of $49.49. The company has a market cap of $97.42 billion, a P/E ratio of 125.88 and a beta of 1.55.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio 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.