Brookfield (NYSE:BN) Sets New 52-Week High – Still a Buy?

Brookfield Co. (NYSE:BN)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $57.17 and last traded at $57.17, with a volume of 41015 shares changing hands. The stock had previously closed at $55.75.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BN shares. BMO Capital Markets raised their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Scotiabank upped their price objective on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Securities upped their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

Brookfield Stock Performance

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The firm has a fifty day simple moving average of $52.03 and a 200 day simple moving average of $46.79. The company has a market cap of $93.63 billion, a price-to-earnings ratio of 98.33 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. On average, sell-side analysts expect that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is currently 55.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BN. Vanguard Group Inc. raised its holdings in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the last quarter. Capital World Investors lifted its stake in Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after acquiring an additional 299,029 shares in the last quarter. Cooke & Bieler LP lifted its stake in Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after acquiring an additional 269,813 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Brookfield by 3.7% in the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock valued at $134,629,000 after acquiring an additional 113,241 shares in the last quarter. 61.60% of the stock is 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.