Brookfield (NYSE:BN) Given New $69.00 Price Target at Scotiabank

Brookfield (NYSE:BN) had its price objective upped by equities research analysts at Scotiabank from $65.00 to $69.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 21.50% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada reduced their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. 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 report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research report on Friday. Finally, TD Securities increased their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Down 1.7 %

Shares of NYSE BN opened at $56.79 on Friday. The business’s fifty day moving average price is $53.47 and its 200-day moving average price is $47.71. Brookfield has a one year low of $33.61 and a one year high of $60.20. The stock has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Brookfield in the 2nd quarter worth approximately $128,321,000. The Manufacturers Life Insurance Company grew its position 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 worth $623,783,000 after acquiring an additional 2,818,716 shares in the last quarter. Capital World Investors increased its stake in Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. Wulff Hansen & CO. raised its position in Brookfield by 4,054.0% during the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after purchasing an additional 1,505,372 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Brookfield by 1.9% during the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

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.