Brookfield (NYSE:BN) Given New $70.00 Price Target at CIBC

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

Other equities research analysts also recently issued research reports about the stock. Scotiabank upped their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.06.

Brookfield Price Performance

NYSE BN opened at $61.09 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. Brookfield has a 1 year low of $38.18 and a 1 year high of $62.44. The company has a market cap of $100.54 billion, a PE ratio of 129.97 and a beta of 1.56. The stock’s 50-day moving average price is $58.30 and its two-hundred day moving average price is $53.15.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. Brookfield’s payout ratio is currently 68.09%.

Institutional Trading of Brookfield

A number of institutional investors and hedge funds have recently modified their holdings of BN. First Personal Financial Services bought a new position in Brookfield in the 3rd quarter worth $42,000. FSA Wealth Management LLC acquired a new stake in shares of Brookfield in the third quarter valued at about $42,000. Prestige Wealth Management Group LLC increased its stake in shares of Brookfield by 137.0% in the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Continuum Advisory LLC acquired a new position in shares of Brookfield during the 3rd quarter worth about $55,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.