Brookfield (NYSE:BN) Price Target Lowered to $48.50 at Scotiabank

Brookfield (NYSE:BN) had its price objective reduced by Scotiabank from $52.00 to $48.50 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a sector outperform rating on the stock.

BN has been the subject of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. BMO Capital Markets boosted their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Finally, Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

Brookfield Stock Up 1.8%

BN stock opened at $39.93 on Wednesday. The company has a market cap of $97.81 billion, a price-to-earnings ratio of 80.93 and a beta of 1.58. The company has a fifty day moving average price of $44.23 and a 200 day moving average price of $45.32. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield has a 12 month low of $29.07 and a 12 month high of $49.56.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. Sell-side analysts expect that Brookfield will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio (DPR) is presently 57.14%.

Institutional Investors Weigh In On Brookfield

Institutional investors have recently added to or reduced their stakes in the business. Partners Value Investments L.P. raised its stake in shares of Brookfield by 50.0% during the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after buying an additional 60,468,651 shares in the last quarter. Dodge & Cox purchased a new stake in shares of Brookfield in the fourth quarter valued at approximately $1,894,354,000. Royal Bank of Canada grew its holdings in Brookfield by 40.5% during the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after acquiring an additional 32,760,558 shares during the period. Vanguard Group Inc. grew its holdings in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. Finally, Capital World Investors raised its position in Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.