Morgan Stanley Begins Coverage on Brookfield (NYSE:BN)

Morgan Stanley began coverage on shares of Brookfield (NYSE:BN) in a report released on Thursday,Benzinga reports. The firm issued an overweight rating and a $80.00 target price on the stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. CIBC upped their price target on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday. Finally, Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Price Performance

NYSE BN opened at $61.09 on Thursday. The business’s fifty day moving average is $58.30 and its 200 day moving average is $53.15. Brookfield has a fifty-two week low of $38.18 and a fifty-two week high of $62.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The company has a market capitalization of $100.54 billion, a PE ratio of 129.97 and a beta of 1.56.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. Brookfield’s dividend payout ratio is 68.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BN. Asset Management Advisors LLC grew its holdings in shares of Brookfield by 1.3% in the fourth quarter. Asset Management Advisors LLC now owns 225,273 shares of the company’s stock valued at $12,942,000 after purchasing an additional 2,798 shares in the last quarter. Golden State Equity Partners grew its stake in shares of Brookfield by 23.7% in the 4th quarter. Golden State Equity Partners now owns 5,307 shares of the company’s stock worth $305,000 after buying an additional 1,018 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Brookfield in the 4th quarter worth about $116,000. Factory Mutual Insurance Co. raised its position in shares of Brookfield by 34.5% during the 4th quarter. Factory Mutual Insurance Co. now owns 374,000 shares of the company’s stock valued at $21,486,000 after buying an additional 96,000 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Brookfield by 41.6% in the 4th quarter. Caprock Group LLC now owns 17,466 shares of the company’s stock valued at $1,003,000 after acquiring an additional 5,134 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

About Brookfield

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.