Brookfield (NYSE:BN) Sets New 52-Week High – Should You Buy?

Brookfield Co. (NYSE:BN) shares reached a new 52-week high on Thursday . The stock traded as high as $60.68 and last traded at $60.68, with a volume of 10296 shares trading hands. The stock had previously closed at $57.61.

Analysts Set New Price Targets

BN has been the subject of a number of research reports. Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank increased their price target on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Keefe, Bruyette & Woods lifted their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Price Performance

The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a market cap of $96.91 billion, a price-to-earnings ratio of 99.35 and a beta of 1.53. The company has a 50 day moving average of $53.05 and a 200 day moving average of $47.47.

Institutional Investors Weigh In On Brookfield

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its stake in shares of Brookfield by 9.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,369 shares of the company’s stock valued at $476,000 after purchasing an additional 946 shares during the period. Russell Investments Group Ltd. raised its position in Brookfield by 5.9% in the 1st quarter. Russell Investments Group Ltd. now owns 554,906 shares of the company’s stock valued at $23,209,000 after buying an additional 31,005 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in Brookfield by 2.3% in the 1st quarter. Bleakley Financial Group LLC now owns 22,030 shares of the company’s stock valued at $922,000 after acquiring an additional 494 shares in the last quarter. Blair William & Co. IL boosted its position in Brookfield by 0.7% during the 1st quarter. Blair William & Co. IL now owns 114,275 shares of the company’s stock worth $4,785,000 after acquiring an additional 835 shares during the last quarter. Finally, Cumberland Partners Ltd bought a new position in shares of Brookfield during the 1st quarter worth approximately $235,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.