Brookfield (NYSE:BN) Price Target Raised to $69.00

Brookfield (NYSE:BN - Free Report) had its price objective lifted by Scotiabank from $65.00 to $69.00 in a research report sent to investors on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other brokerages have also issued reports on BN. JPMorgan Chase & Co. increased their price objective 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 lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a report on Friday, August 9th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, August 9th. BMO Capital Markets reiterated an "outperform" rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday. Finally, TD Securities raised their price target on Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.31.

Brookfield Stock Performance

BN stock traded down $1.01 during midday trading on Friday, reaching $56.79. 2,406,427 shares of the company's stock traded hands, compared to its average volume of 2,786,896. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20. The stock has a market cap of $93.52 billion, a P/E ratio of 120.83 and a beta of 1.53. The stock's 50-day moving average is $53.47 and its 200 day moving average is $47.65.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Monday, December 16th. Brookfield's dividend payout ratio (DPR) is 68.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. 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 acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield in the second quarter worth about $31,000. First Personal Financial Services purchased a new position in Brookfield in the 3rd quarter worth about $42,000. FSA Wealth Management LLC bought a new stake in shares of Brookfield during the third quarter valued at approximately $42,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Brookfield by 137.0% in the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company's stock valued at $46,000 after purchasing an additional 500 shares during the period. 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.