Brookfield (NYSE:BN) Price Target Raised to $70.00

Brookfield (NYSE:BN) had its price target lifted by CIBC from $68.00 to $70.00 in a research note published on Thursday,Benzinga reports. CIBC currently has an outperformer rating on the stock.

A number of other analysts also recently weighed in on BN. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two 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 currently has a consensus rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Trading Up 2.5 %

Shares of BN opened at $61.09 on Thursday. Brookfield has a one year low of $38.18 and a one year high of $62.44. The stock has a 50-day moving average price of $58.30 and a 200 day moving average price of $53.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The company has a market capitalization of $100.54 billion, a P/E ratio of 129.97 and a beta of 1.56.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Hedge Funds Weigh In On Brookfield

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Personal Financial Services bought a new position in shares of Brookfield in the third quarter valued at approximately $42,000. FSA Wealth Management LLC bought a new position in Brookfield during the 3rd quarter valued at $42,000. Prestige Wealth Management Group LLC increased its position in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after purchasing an additional 500 shares during the period. Continuum Advisory LLC bought a new stake in shares of Brookfield in the 3rd quarter worth $55,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 221 shares during the period. Institutional investors 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.