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

Shares of Brookfield Corporation (NYSE:BN) have been given an average rating of “Moderate Buy” by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $56.8182.

Several brokerages recently issued reports on BN. National Bank Financial raised their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. TD lifted their price objective on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Finally, Scotia lifted their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th.

Brookfield Stock Performance

Shares of NYSE BN opened at $43.43 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. Brookfield has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a 50 day simple moving average of $44.89 and a two-hundred day simple moving average of $44.64. The stock has a market cap of $106.45 billion, a price-to-earnings ratio of 85.15 and a beta of 1.54.

Brookfield Dividend Announcement

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

Hedge Funds Weigh In On Brookfield

A number of large investors have recently added to or reduced their stakes in the stock. Chemistry Wealth Management LLC lifted its holdings in Brookfield by 51.6% in the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. grew its holdings in shares of Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after buying an additional 122,040 shares in the last quarter. Florida Trust Wealth Management Co grew its holdings in shares of Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after buying an additional 387,068 shares in the last quarter. Vanguard Group Inc. raised its position 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 during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Brookfield by 4.4% in the third quarter. Legal & General Group Plc now owns 7,359,626 shares of the company’s stock valued at $505,074,000 after buying an additional 310,864 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield

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.