Brookfield (NYSE:BN) Given New $69.00 Price Target at Scotiabank

Brookfield (NYSE:BN) had its price objective upped by investment analysts at Scotiabank from $65.00 to $69.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 21.27% from the company’s previous close.

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

Brookfield Price Performance

Brookfield stock traded down $0.90 during midday trading on Friday, hitting $56.90. 865,199 shares of the company’s stock were exchanged, compared to its average volume of 2,779,958. The company has a market cap of $93.70 billion, a P/E ratio of 97.95 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a 50-day moving average price of $53.26 and a two-hundred day moving average price of $47.54. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20.

Hedge Funds Weigh In On Brookfield

Several hedge funds have recently made changes to their positions in BN. IHT Wealth Management LLC raised its stake in Brookfield by 20.9% in the third quarter. IHT Wealth Management LLC now owns 11,044 shares of the company’s stock worth $593,000 after buying an additional 1,908 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Brookfield by 2.1% in the 3rd quarter. Janus Henderson Group PLC now owns 273,556 shares of the company’s stock worth $14,536,000 after acquiring an additional 5,532 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Brookfield by 1.0% in the 3rd quarter. HighTower Advisors LLC now owns 199,096 shares of the company’s stock valued at $10,577,000 after purchasing an additional 1,971 shares during the period. Bamco Inc. NY grew its stake in Brookfield by 62.6% in the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock worth $103,614,000 after purchasing an additional 750,726 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Brookfield in the third quarter worth $42,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

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.