Brookfield (NYSE:BN) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Brookfield (NYSE:BN) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $53.00 target price on the stock.

Other analysts have also issued reports about the company. TheStreet upgraded Brookfield from a c rating to a b rating in a report on Thursday, February 8th. TD Securities boosted their price target on Brookfield from $61.00 to $62.00 and gave the company an action list buy rating in a report on Sunday, February 11th. BMO Capital Markets boosted their price target on Brookfield from $42.00 to $44.00 and gave the company an outperform rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Brookfield from $48.00 to $52.00 and gave the company an overweight rating in a report on Thursday, February 1st. Finally, CIBC boosted their price target on Brookfield from $46.00 to $52.00 and gave the company an outperform rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $47.45.

Brookfield Stock Down 1.1 %

NYSE:BN opened at $39.30 on Friday. Brookfield has a 1 year low of $28.84 and a 1 year high of $43.17. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock has a market cap of $64.48 billion, a price-to-earnings ratio of 63.39 and a beta of 1.49. The stock has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $37.43.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $1.12 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Brookfield will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.81%. The ex-dividend date was Tuesday, March 12th. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio is presently 51.61%.

Insiders Place Their Bets

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Brookfield

A number of institutional investors have recently bought and sold shares of the business. Bartlett & CO. Wealth Management LLC grew its position in shares of Brookfield by 3.9% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 7,391 shares of the company’s stock valued at $298,000 after purchasing an additional 277 shares during the last quarter. M&T Bank Corp grew its position in shares of Brookfield by 3.3% in the fourth quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock valued at $400,000 after purchasing an additional 314 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Brookfield by 32.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,349 shares of the company’s stock valued at $45,000 after purchasing an additional 329 shares during the last quarter. Fortis Group Advisors LLC grew its position in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its position in shares of Brookfield by 5.3% in the fourth quarter. Fidelis Capital Partners LLC now owns 7,334 shares of the company’s stock valued at $294,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds 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.