Brookfield (NYSE:BN) Now Covered by Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Brookfield (NYSE:BN) in a report issued on Thursday,Benzinga reports. The firm issued an overweight rating and a $80.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, Scotiabank boosted their target price 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. Two investment 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 stock presently has an average rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Stock Performance

Shares of BN stock opened at $59.52 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. The company has a market cap of $97.95 billion, a PE ratio of 126.63 and a beta of 1.56. The company’s fifty day simple moving average is $58.21 and its 200-day simple moving average is $52.96. Brookfield has a 52 week low of $38.18 and a 52 week high of $62.44.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. Brookfield’s dividend payout ratio is presently 68.09%.

Hedge Funds Weigh In On Brookfield

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in Brookfield by 11.1% in the 2nd quarter. American Century Companies Inc. now owns 63,788 shares of the company’s stock worth $2,653,000 after purchasing an additional 6,389 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Brookfield by 186.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,163 shares of the company’s stock valued at $131,000 after acquiring an additional 2,057 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Brookfield by 184.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 199,750 shares of the company’s stock valued at $8,309,000 after acquiring an additional 129,604 shares in the last quarter. APG Asset Management N.V. boosted its stake in Brookfield by 224.2% in the 2nd quarter. APG Asset Management N.V. now owns 169,332 shares of the company’s stock worth $6,570,000 after purchasing an additional 117,100 shares during the period. Finally, Millennium Management LLC grew its position in Brookfield by 221.6% during the 2nd quarter. Millennium Management LLC now owns 345,545 shares of the company’s stock worth $14,363,000 after purchasing an additional 238,104 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.