Brookfield Corporation (NYSE:BN) Given Average Recommendation of “Moderate Buy” by Brokerages

Brookfield Corporation (NYSE:BN) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $56.8182.

Several research analysts recently commented on BN shares. Scotiabank reissued an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Scotia increased their price objective on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 target price (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Finally, TD raised their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday.

Brookfield Stock Down 0.2%

NYSE BN opened at $45.37 on Friday. The business has a fifty day moving average price of $43.15 and a 200 day moving average price of $44.89. Brookfield has a one year low of $37.54 and a one year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a market cap of $111.19 billion, a P/E ratio of 88.96 and a beta of 1.55.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Institutional Trading of Brookfield

Hedge funds and other institutional investors have recently modified their holdings of the stock. Chemistry Wealth Management LLC grew its holdings in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the period. Triasima Portfolio Management inc. grew its holdings in shares of Brookfield by 9.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock worth $19,825,000 after purchasing an additional 23,923 shares during the period. PCJ Investment Counsel Ltd. grew its holdings in shares of Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after purchasing an additional 122,040 shares during the period. Florida Trust Wealth Management Co grew its holdings in shares of Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after purchasing an additional 387,068 shares during the period. Finally, Citigroup Inc. grew its holdings in shares of Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after purchasing an additional 221,078 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.