Brookfield (NYSE:BN) Sets New 12-Month High at $52.50

Brookfield Co. (NYSE:BN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $52.50 and last traded at $52.50, with a volume of 298 shares traded. The stock had previously closed at $52.18.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Scotiabank boosted their price target on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada lowered their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.59.

Brookfield Stock Performance

The firm’s fifty day moving average price is $47.46 and its 200-day moving average price is $43.89. The company has a market cap of $86.19 billion, a P/E ratio of 85.54 and a beta of 1.53. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, research analysts forecast that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.61%. Brookfield’s dividend payout ratio is currently 52.46%.

Institutional Investors Weigh In On Brookfield

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Capital World Investors raised its position in Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. TD Asset Management Inc raised its position in Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after purchasing an additional 3,702,266 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after buying an additional 299,029 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in Brookfield by 7.3% in the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after buying an additional 1,098,854 shares during the last quarter. 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.