Brookfield (NYSE:BN) Sets New 1-Year High – Here’s Why

Brookfield Co. (NYSE:BN)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $62.12 and last traded at $61.97, with a volume of 127433 shares changing hands. The stock had previously closed at $61.39.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent analyst reports. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities raised their target price 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. Scotiabank lifted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Trading Down 0.5 %

The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business’s 50-day moving average price is $55.34 and its two-hundred day moving average price is $48.79. The firm has a market cap of $100.60 billion, a price-to-earnings ratio of 130.62 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s dividend payout ratio is currently 68.09%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC acquired a new stake in shares of Brookfield in the 2nd quarter worth about $31,000. Family Firm Inc. acquired a new stake in shares of Brookfield in the 2nd quarter worth about $36,000. First Personal Financial Services acquired a new stake in shares of Brookfield in the 3rd quarter worth about $42,000. Finally, FSA Wealth Management LLC acquired a new stake in shares of Brookfield in the 3rd quarter worth about $42,000. 61.60% of the stock is currently owned by institutional investors.

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.