Brokerages Set Brookfield Co. (NYSE:BN) Price Target at $60.06

Brookfield Co. (NYSE:BN) has received an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $60.06.

Several equities research analysts have weighed in on the stock. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target for the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, CIBC lifted their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd.

Brookfield Stock Performance

Shares of NYSE:BN opened at $62.08 on Friday. The business has a fifty day moving average of $58.62 and a 200-day moving average of $53.53. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. Brookfield has a twelve month low of $38.18 and a twelve month high of $62.44. The firm has a market cap of $102.17 billion, a PE ratio of 132.09 and a beta of 1.56.

Brookfield Dividend Announcement

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

Institutional Investors Weigh In On Brookfield

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares during the period. 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 worth $611,383,000 after acquiring an additional 196,790 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Geode Capital Management LLC grew its stake in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

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.