Brookfield (NYSE:BN) Sets New 1-Year High – What’s Next?

Brookfield Corporation (NYSE:BN)’s share price reached a new 52-week high on Tuesday . The company traded as high as $49.47 and last traded at $49.5480, with a volume of 2463354 shares. The stock had previously closed at $48.81.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BN. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a report on Friday, October 3rd. Zacks Research lowered Brookfield from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $49.00 target price (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $53.87.

Brookfield Trading Up 0.8%

The stock has a fifty day moving average of $45.87 and a 200-day moving average of $44.77. The company has a market cap of $121.79 billion, a PE ratio of 136.64 and a beta of 1.58. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, December 16th. Brookfield’s payout ratio is 66.67%.

Institutional Trading of Brookfield

Institutional investors and hedge funds have recently modified their holdings of the stock. Hilltop National Bank bought a new position in Brookfield in the second quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield during the 2nd quarter valued at $32,000. Ameritas Advisory Services LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after buying an additional 330 shares in the last quarter. Finally, First Horizon Corp purchased a new position in shares of Brookfield during the third quarter valued at $40,000. Institutional investors own 61.60% of the company’s stock.

About Brookfield

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.