Brookfield (NYSE:BN) Given New $46.00 Price Target at Keefe, Bruyette & Woods

Brookfield (NYSE:BN) had its price target upped by Keefe, Bruyette & Woods from $44.00 to $46.00 in a research note issued to investors on Friday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other analysts also recently commented on BN. Scotiabank raised their price objective on Brookfield from $49.50 to $50.50 and gave the stock an outperform rating in a research note on Thursday, August 1st. TD Securities lifted their price objective on Brookfield from $61.00 to $62.00 and gave the company a buy rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. increased their target price on Brookfield from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada dropped their target price on shares of Brookfield from $53.00 to $51.00 and set an outperform rating on the stock in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $48.78.

Brookfield Trading Up 1.1 %

BN stock traded up $0.48 during midday trading on Friday, reaching $44.92. The stock had a trading volume of 1,905,807 shares, compared to its average volume of 3,224,635. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. Brookfield has a twelve month low of $28.84 and a twelve month high of $49.44. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 73.64 and a beta of 1.52. The business has a fifty day simple moving average of $43.76 and a two-hundred day simple moving average of $42.22.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company posted $0.75 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, research analysts expect that Brookfield will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.71%. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Insider Buying and Selling

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently modified their holdings of the business. Blacksheep Fund Management Ltd bought a new position in Brookfield during the 4th quarter worth approximately $101,800,000. Choreo LLC bought a new position in Brookfield during the fourth quarter worth $754,000. American National Bank & Trust Co. VA acquired a new position in Brookfield in the first quarter valued at $5,716,000. M&G Plc bought a new stake in Brookfield during the first quarter valued at $111,222,000. Finally, Norges Bank acquired a new stake in Brookfield during the 4th quarter worth about $614,104,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.