Brokerages Set Brookfield Corporation (NYSE:BN) Target Price at $54.20

Brookfield Corporation (NYSE:BN) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.2037.

A number of brokerages have recently issued reports on BN. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. National Bank Financial lifted their price target on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research report on Monday, December 1st. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Finally, Royal Bank Of Canada lifted their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th.

Brookfield Price Performance

NYSE:BN opened at $38.99 on Friday. The stock has a market capitalization of $95.51 billion, a PE ratio of 79.03 and a beta of 1.58. Brookfield has a 1-year low of $29.07 and a 1-year high of $49.56. The firm has a fifty day simple moving average of $43.91 and a 200 day simple moving average of $45.26. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, research analysts expect that Brookfield will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

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

Hedge Funds Weigh In On Brookfield

Several institutional investors and hedge funds have recently modified their holdings of BN. Purpose Unlimited Inc. bought a new stake in shares of Brookfield during the 4th quarter worth about $15,284,000. Rockefeller Capital Management L.P. lifted its position in Brookfield by 56.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 370,308 shares of the company’s stock worth $16,993,000 after acquiring an additional 133,289 shares during the last quarter. World Investment Advisors acquired a new stake in Brookfield during the fourth quarter worth approximately $229,000. Rubicon Advisors GP bought a new stake in shares of Brookfield during the fourth quarter worth approximately $691,000. Finally, Corient Private Wealth LLC grew its position in shares of Brookfield by 40.1% in the fourth quarter. Corient Private Wealth LLC now owns 4,891,403 shares of the company’s stock valued at $224,571,000 after purchasing an additional 1,399,216 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.