Brookfield’s (BN) “Outperform” Rating Reiterated at BMO Capital Markets

Brookfield (NYSE:BN)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $62.00 price objective on the stock, up from their prior price objective of $50.00. BMO Capital Markets’ price objective would suggest a potential upside of 9.17% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities upped their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Scotiabank upped their target price on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

Brookfield stock opened at $56.79 on Friday. The business has a 50 day moving average of $53.47 and a 200-day moving average of $47.71. Brookfield has a 1 year low of $33.61 and a 1 year high of $60.20. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The company has a market capitalization of $93.52 billion, a P/E ratio of 120.83 and a beta of 1.53.

Hedge Funds Weigh In On Brookfield

Large investors have recently modified their holdings of the company. Cetera Investment Advisers lifted its holdings in shares of Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Brookfield by 324.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after buying an additional 80,762 shares during the last quarter. Callan Family Office LLC purchased a new stake in Brookfield in the 2nd quarter valued at $446,000. Acadian Asset Management LLC raised its position in Brookfield by 352.5% in the 1st quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock valued at $8,232,000 after buying an additional 153,205 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its position in Brookfield by 373.2% in the 3rd quarter. Leavell Investment Management Inc. now owns 35,118 shares of the company’s stock valued at $1,867,000 after buying an additional 27,696 shares during the last quarter. 61.60% of the stock is currently 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.