Brookfield (NYSE:BN) Sets New 52-Week High – Still a Buy?

Brookfield Co. (NYSE:BN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $57.17 and last traded at $57.17, with a volume of 41015 shares trading hands. The stock had previously closed at $55.75.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BN. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Scotiabank boosted their price objective on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two investment 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, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Brookfield Stock Up 2.0 %

The stock’s fifty day simple moving average is $52.03 and its two-hundred day simple moving average is $46.79. The company has a market capitalization of $93.63 billion, a price-to-earnings ratio of 98.33 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 earnings per share. On average, sell-side analysts predict that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. Brookfield’s dividend payout ratio is presently 55.17%.

Hedge Funds Weigh In On Brookfield

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nicholas Hoffman & Company LLC. grew its position in Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after buying an additional 257 shares in the last quarter. Blue Trust Inc. grew its position in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after purchasing an additional 296 shares in the last quarter. Finally, Pembroke Management LTD boosted its position in shares of Brookfield by 4.4% during the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares in the last quarter. 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.