Scotiabank Issues Positive Forecast for Brookfield (NYSE:BN) Stock Price

Brookfield (NYSE:BN) had its target price upped by Scotiabank from $65.00 to $69.00 in a report published on Friday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other brokerages have also recently commented on BN. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods lifted their target price 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Price Performance

BN traded down $1.01 on Friday, hitting $56.79. 2,406,514 shares of the company were exchanged, compared to its average volume of 2,786,896. The firm has a market capitalization of $93.52 billion, a P/E ratio of 120.83 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The business’s fifty day moving average is $53.47 and its 200 day moving average is $47.65. Brookfield has a fifty-two week low of $33.61 and a fifty-two week high of $60.20.

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 given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, December 16th. Brookfield’s payout ratio is currently 68.09%.

Institutional Investors Weigh In On Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new position in Brookfield during the 2nd quarter valued at about $31,000. Family Firm Inc. acquired a new position in Brookfield during the 2nd quarter valued at about $36,000. First Personal Financial Services acquired a new position in Brookfield during the 3rd quarter valued at about $42,000. Finally, FSA Wealth Management LLC bought a new position in shares of Brookfield in the third quarter valued at approximately $42,000. 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.