Brookfield Co. (NYSE:BN) Plans $0.08 Quarterly Dividend

Brookfield Co. (NYSE:BN) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be paid a dividend of 0.08 per share on Tuesday, December 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, December 16th.

Brookfield has decreased its dividend by an average of 16.4% per year over the last three years. Brookfield has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brookfield to earn $4.29 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 7.5%.

Brookfield Price Performance

Shares of NYSE:BN traded down $1.01 during trading hours on Friday, hitting $56.79. 2,185,827 shares of the company’s stock traded hands, compared to its average volume of 2,785,907. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company’s fifty day simple moving average is $53.26 and its two-hundred day simple moving average is $47.54. Brookfield has a 52 week low of $33.61 and a 52 week high of $60.20. The company has a market cap of $93.52 billion, a price-to-earnings ratio of 120.53 and a beta of 1.53.

Analyst Ratings Changes

BN has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday. Royal Bank of Canada reduced their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Scotiabank boosted their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

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.