Brookfield’s (BN) Outperform Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Brookfield (NYSE:BN) in a research report report published on Friday morning,Benzinga reports. BMO Capital Markets currently has a $62.00 target price on the stock, up from their prior target price of $50.00.

BN has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Scotiabank lifted their target price on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada decreased their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Performance

NYSE BN opened at $56.11 on Friday. 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 has a twelve month low of $33.61 and a twelve month high of $60.20. The stock has a 50-day moving average of $53.65 and a 200 day moving average of $47.86. The stock has a market capitalization of $92.40 billion, a price-to-earnings ratio of 119.39 and a beta of 1.53.

Brookfield Announces Dividend

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Hedge Funds Weigh In On Brookfield

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BN. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 1,063,110 shares during the last quarter. Capital World Investors lifted its holdings 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. 1832 Asset Management L.P. grew its position in Brookfield by 1.3% in the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after acquiring an additional 299,029 shares during the period. 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 during the period. Finally, EdgePoint Investment Group Inc. increased its stake in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.