Scotiabank Increases Brookfield (NYSE:BN) Price Target to $50.50

Brookfield (NYSE:BN) had its target price increased by Scotiabank from $49.50 to $50.50 in a research report report published on Thursday morning, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently weighed in on BN. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods lowered their price objective on shares of Brookfield from $46.00 to $44.00 and set a market perform rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada lowered their price objective on shares of Brookfield from $53.00 to $51.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $48.00.

Brookfield Trading Down 4.7 %

Shares of NYSE BN opened at $45.36 on Thursday. The firm’s 50 day moving average price is $43.67 and its 200-day moving average price is $42.08. The company has a market cap of $74.56 billion, a PE ratio of 74.36 and a beta of 1.52. Brookfield has a 52-week low of $28.84 and a 52-week high of $49.44. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $22.91 billion for the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter in the prior year, the company posted $0.72 EPS. On average, equities research analysts expect that Brookfield will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.71%. Brookfield’s payout ratio is presently 52.46%.

Insiders Place Their Bets

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

Institutional Trading of Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the company. Connectus Wealth LLC increased its stake in shares of Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC grew its stake in Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares in the last quarter. Blue Trust Inc. grew its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC purchased a new position in Brookfield during the second quarter valued at $31,000. Finally, Allworth Financial LP grew its stake in Brookfield by 256.2% during the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after acquiring an additional 638 shares in the last quarter. 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.