Scotiabank Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its price target raised by Scotiabank from $65.00 to $69.00 in a research report released on Friday,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities analysts have also weighed in on BN. Royal Bank of Canada decreased their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities increased their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Down 1.7 %

Brookfield stock opened at $56.79 on Friday. Brookfield has a 12 month low of $33.61 and a 12 month high of $60.20. The stock has a fifty day simple moving average of $53.47 and a two-hundred day simple moving average of $47.75. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after buying an additional 1,063,110 shares in the last quarter. Capital World Investors grew its stake in shares of Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares during the period. 1832 Asset Management L.P. increased its holdings in Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after acquiring an additional 299,029 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its holdings in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Company Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.