Brookfield (NYSE:BN) Reaches New 1-Year High – What’s Next?

Brookfield Co. (NYSE:BN)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $62.12 and last traded at $61.97, with a volume of 127433 shares traded. The stock had previously closed at $61.39.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. 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 research report on Friday, August 9th. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Price Performance

The stock has a market capitalization of $100.60 billion, a P/E ratio of 130.62 and a beta of 1.53. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $55.34 and a 200 day simple moving average of $48.79.

Brookfield Announces Dividend

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

Institutional Investors Weigh In On Brookfield

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blankinship & Foster LLC bought a new stake in Brookfield during the 3rd quarter valued at approximately $32,389,000. Wilmington Savings Fund Society FSB bought a new position in Brookfield in the 3rd quarter valued at approximately $784,000. Virtu Financial LLC purchased a new stake in Brookfield during the 3rd quarter valued at $211,000. Rehmann Capital Advisory Group purchased a new stake in Brookfield during the 3rd quarter valued at $241,000. Finally, Toronto Dominion Bank increased its stake in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 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.