Brookfield (NYSE:BN) Hits New 52-Week High at $44.13

Brookfield Co. (NYSE:BN)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.13 and last traded at $43.78, with a volume of 182714 shares traded. The stock had previously closed at $43.99.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BN. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. TD Securities upped their price target on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Scotiabank upped their target price on shares of Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada lowered their price target on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Brookfield Price Performance

The firm has a 50-day moving average of $41.04 and a 200 day moving average of $38.55. The company has a market capitalization of $72.04 billion, a PE ratio of 70.42 and a beta of 1.48. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The firm had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. As a group, research analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by insiders.

Institutional Trading of Brookfield

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its stake in Brookfield by 8.9% in the 3rd quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock worth $1,993,867,000 after buying an additional 5,192,256 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Brookfield by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 56,417,198 shares of the company’s stock worth $2,263,458,000 after purchasing an additional 987,520 shares in the last quarter. Capital World Investors raised its stake in Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock valued at $1,982,903,000 after purchasing an additional 24,975,364 shares during the period. TD Asset Management Inc lifted its holdings in Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after purchasing an additional 3,702,266 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Brookfield by 1.2% in the 3rd quarter. Bank of Nova Scotia now owns 20,312,486 shares of the company’s stock worth $635,326,000 after purchasing an additional 242,567 shares during the period. 61.60% of the stock is 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.