JPMorgan Chase & Co. Issues Pessimistic Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $66.00 to $65.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 29.70% from the stock’s previous close.

BN has been the topic of a number of other reports. TD Securities upped their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. Finally, Morgan Stanley lowered their price target on Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.88.

Brookfield Stock Up 2.6 %

Shares of BN stock traded up $1.28 during mid-day trading on Thursday, hitting $50.11. The stock had a trading volume of 1,276,800 shares, compared to its average volume of 2,803,393. Brookfield has a 12-month low of $38.32 and a 12-month high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The firm’s 50-day moving average is $53.58 and its two-hundred day moving average is $55.92. The firm has a market capitalization of $82.52 billion, a P/E ratio of 167.05 and a beta of 1.60.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, analysts predict that Brookfield will post 3.85 earnings per share for the current fiscal year.

Institutional Trading of Brookfield

Several large investors have recently made changes to their positions in BN. Norges Bank purchased a new position in shares of Brookfield in the fourth quarter worth about $973,591,000. Baillie Gifford & Co. grew its holdings in Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after buying an additional 3,271,403 shares in the last quarter. Regents of The University of California acquired a new stake in shares of Brookfield in the 4th quarter worth $154,140,000. Geode Capital Management LLC increased its stake in shares of Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock worth $460,489,000 after acquiring an additional 1,930,218 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Brookfield by 3.1% during the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares during the period. 61.60% of the stock is currently owned by hedge funds and other 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.