Brookfield (NYSE:BN) Upgraded at Zacks Research

Zacks Research upgraded shares of Brookfield (NYSE:BN) from a strong sell rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $54.00 price objective on Brookfield and gave the stock an “overweight” rating in a research note on Monday, October 13th. Wall Street Zen lowered shares of Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, January 17th. Royal Bank Of Canada restated an “outperform” rating and issued a $58.00 price target (up previously from $57.00) on shares of Brookfield in a research report on Monday, December 15th. BMO Capital Markets reiterated an “outperform” rating and set a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. Finally, CIBC reissued an “outperform” rating and issued a $52.00 price objective (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $53.87.

Brookfield Price Performance

Shares of NYSE:BN opened at $46.27 on Monday. The firm has a market cap of $114.61 billion, a price-to-earnings ratio of 128.54 and a beta of 1.58. The firm has a fifty day moving average price of $46.15 and a 200 day moving average price of $45.26. Brookfield has a fifty-two week low of $29.07 and a fifty-two week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. As a group, sell-side analysts expect that Brookfield will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is currently 66.67%.

Institutional Trading of Brookfield

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Brookfield during the second quarter valued at approximately $1,040,160,000. Lone Pine Capital LLC purchased a new position in Brookfield during the 2nd quarter valued at $347,683,000. Canada Pension Plan Investment Board grew its position in Brookfield by 132.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after acquiring an additional 3,727,628 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Brookfield in the third quarter worth $171,104,000. Finally, Picton Mahoney Asset Management bought a new stake in shares of Brookfield during the second quarter worth $140,555,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.