JPMorgan Chase & Co. Raises Brookfield (NYSE:BN) Price Target to $62.00

Brookfield (NYSE:BN) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $60.00 to $62.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 35.48% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada lifted their target price on Brookfield from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. BMO Capital Markets lifted their price objective on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, National Bank Financial raised their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.39.

Brookfield Trading Down 1.2%

Brookfield stock traded down $0.58 during trading on Tuesday, hitting $45.76. The company had a trading volume of 1,126,780 shares, compared to its average volume of 5,862,149. The stock has a market cap of $112.16 billion, a price-to-earnings ratio of 92.83 and a beta of 1.55. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. Brookfield has a 1-year low of $37.54 and a 1-year high of $49.56. The company’s 50 day simple moving average is $42.58 and its 200-day simple moving average is $44.92.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, analysts expect that Brookfield will post 2.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Brookfield by 147.5% in the first quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after buying an additional 11,069 shares in the last quarter. NewEdge Advisors LLC raised its position in Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after acquiring an additional 295 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Brookfield by 32.3% in the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after acquiring an additional 1,396 shares during the period. AXA S.A. lifted its holdings in Brookfield by 42.2% in the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after acquiring an additional 30,703 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock worth $1,577,000 after purchasing an additional 5,821 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.