Brookfield (NYSE:BN) Upgraded by Wall Street Zen to Hold Rating

Brookfield (NYSE:BN) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on BN. Morgan Stanley reiterated an “overweight” rating and issued a $58.00 target price on shares of Brookfield in a research report on Tuesday. CIBC restated an “outperform” rating and set a $52.00 price objective (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. TD Securities boosted their target price on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $54.27.

Brookfield Price Performance

Shares of BN stock opened at $45.56 on Friday. The firm has a fifty day moving average of $46.58 and a two-hundred day moving average of $45.47. The firm has a market cap of $112.84 billion, a P/E ratio of 126.56 and a beta of 1.58. Brookfield has a 1-year low of $29.07 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19.

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

Institutional Trading of Brookfield

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the period. Norges Bank bought a new position in Brookfield in the 2nd quarter worth approximately $1,040,160,000. Lone Pine Capital LLC bought a new position in Brookfield in the 2nd quarter worth approximately $347,683,000. Canada Pension Plan Investment Board increased 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 period. Finally, CIBC Bancorp USA Inc. bought a new stake in Brookfield during the 3rd quarter valued at $171,104,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Company Profile

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.