Brookfield (NYSE:BN) Price Target Lowered to $51.00 at Royal Bank of Canada

Brookfield (NYSE:BN) had its price objective trimmed by Royal Bank of Canada from $53.00 to $51.00 in a report released on Monday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research firms have also issued reports on BN. BMO Capital Markets boosted their price target on shares of Brookfield from $42.00 to $44.00 and gave the company an outperform rating in a research report on Friday, February 9th. JPMorgan Chase & Co. increased their target price on Brookfield from $48.00 to $52.00 and gave the stock an overweight rating in a research report on Thursday, February 1st. TD Securities raised their price target on Brookfield from $61.00 to $62.00 and gave the stock an action list buy rating in a report on Sunday, February 11th. TheStreet upgraded Brookfield from a c rating to a b rating in a research note on Thursday, February 8th. Finally, CIBC increased their price objective on Brookfield from $46.00 to $52.00 and gave the stock an outperform rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $47.25.

Brookfield Stock Performance

NYSE:BN opened at $41.06 on Monday. The company has a market capitalization of $67.42 billion, a P/E ratio of 66.23 and a beta of 1.49. The business has a fifty day simple moving average of $40.81 and a two-hundred day simple moving average of $38.09. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. Brookfield has a 1 year low of $28.84 and a 1 year high of $43.17.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The company had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts expect that Brookfield will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio (DPR) is presently 51.61%.

Insider Transactions at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Brookfield

Institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC raised its position in Brookfield by 4.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock worth $277,000 after purchasing an additional 288 shares during the period. M&T Bank Corp lifted its stake in shares of Brookfield by 3.3% in the 4th quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock valued at $400,000 after acquiring an additional 314 shares during the last quarter. Fortis Group Advisors LLC lifted its stake in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Brookfield by 5.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 7,540 shares of the company’s stock valued at $316,000 after acquiring an additional 359 shares during the period. Finally, Fidelis Capital Partners LLC grew its position in Brookfield by 5.3% during the 4th quarter. Fidelis Capital Partners LLC now owns 7,334 shares of the company’s stock worth $294,000 after acquiring an additional 372 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Company Profile

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.