Brookfield (NYSE:BN) Sets New 52-Week High – Still a Buy?

Brookfield Corporation (NYSE:BN) reached a new 52-week high during trading on Tuesday . The company traded as high as $73.03 and last traded at $72.76, with a volume of 2884014 shares trading hands. The stock had previously closed at $71.81.

Wall Street Analyst Weigh In

A number of research firms have commented on BN. TD Securities increased their price objective on shares of Brookfield from $74.00 to $82.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. The Goldman Sachs Group began coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $78.00 price target on the stock. Royal Bank Of Canada raised their price target on shares of Brookfield from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, National Bank Financial began coverage on shares of Brookfield in a research report on Tuesday, July 29th. They issued an “outperform” rating and a $82.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $75.70.

Brookfield Stock Performance

The stock has a market capitalization of $120.00 billion, a P/E ratio of 169.22 and a beta of 1.73. The company’s 50-day moving average is $66.71 and its two-hundred day moving average is $59.54. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50.

Brookfield’s stock is set to split on the morning of Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly created shares will be issued to shareholders after the market closes on Thursday, October 9th.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.01). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be given a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 annualized dividend and a yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is currently 83.72%.

Institutional Trading of Brookfield

Several hedge funds have recently bought and sold shares of BN. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Brookfield in the 1st quarter valued at about $26,000. North Capital Inc. bought a new stake in shares of Brookfield during the 1st quarter worth about $27,000. ST Germain D J Co. Inc. bought a new stake in shares of Brookfield during the 1st quarter worth about $28,000. Hilltop National Bank bought a new stake in shares of Brookfield during the 2nd quarter worth about $30,000. Finally, Golden State Wealth Management LLC raised its position in shares of Brookfield by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 592 shares of the company’s stock worth $31,000 after buying an additional 296 shares in the last quarter. 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.