Scotiabank Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price objective raised by Scotiabank from $65.00 to $69.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

Several other research analysts have also weighed in on BN. TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Trading Down 1.7 %

Shares of NYSE BN traded down $1.01 during mid-day trading on Friday, hitting $56.79. 2,406,514 shares of the company traded hands, compared to its average volume of 2,786,896. Brookfield has a 1 year low of $33.61 and a 1 year high of $60.20. The stock has a market capitalization of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business has a 50 day moving average of $53.47 and a two-hundred day moving average of $47.65.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s payout ratio is presently 68.09%.

Institutional Investors Weigh In On Brookfield

A number of hedge funds and other institutional investors have recently bought and sold shares of BN. SG Americas Securities LLC acquired a new stake in shares of Brookfield in the 2nd quarter valued at $128,321,000. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. Capital World Investors boosted its position in shares of Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. Wulff Hansen & CO. boosted its position in shares of Brookfield by 4,054.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after purchasing an additional 1,505,372 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Brookfield by 1.9% in the 1st 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 owned by institutional investors and hedge funds.

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.