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

Brookfield Co. (NYSE:BN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $60.68 and last traded at $60.68, with a volume of 10296 shares. The stock had previously closed at $57.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BN shares. JPMorgan Chase & Co. raised their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada cut their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Scotiabank boosted their target price on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Securities increased their price target 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. Finally, BMO Capital Markets boosted their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Price Performance

The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $96.91 billion, a price-to-earnings ratio of 99.35 and a beta of 1.53. The company’s 50 day moving average is $53.05 and its 200 day moving average is $47.47.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of BN. Nicholas Hoffman & Company LLC. lifted its stake 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 purchasing an additional 257 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of 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 acquiring an additional 272 shares during the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after acquiring an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after acquiring an additional 296 shares during the last quarter. Finally, Caprock Group LLC raised its position in Brookfield by 2.5% in the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

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.