Brookfield (NYSE:BN) Price Target Raised to $63.00 at Royal Bank Of Canada

Brookfield (NYSE:BN) had its target price boosted by Royal Bank Of Canada from $60.00 to $63.00 in a research report sent to investors on Monday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. National Bank Financial upped their target price on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. BMO Capital Markets upped their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $60.00 target price on shares of Brookfield in a research report on Tuesday, February 17th. Finally, Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $55.54.

Brookfield Stock Performance

BN opened at $46.63 on Monday. The company has a market capitalization of $114.28 billion, a price-to-earnings ratio of 94.52 and a beta of 1.56. 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 1-year low of $31.62 and a 1-year high of $49.56. The business has a 50 day moving average price of $42.81 and a two-hundred day moving average price of $44.86.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. Research analysts predict that Brookfield will post 2.96 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.07 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s payout ratio is currently 57.14%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors and hedge funds have recently modified their holdings of the stock. MCF Advisors LLC acquired a new stake in Brookfield during the 4th quarter valued at $26,000. Quattro Advisors LLC acquired a new stake in Brookfield during the 4th quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new stake in Brookfield during the 4th quarter valued at $27,000. Truvestments Capital LLC raised its stake in Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Finally, Hilltop National Bank raised its stake in Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Institutional investors and hedge funds 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.