Brookfield (NYSE:BN) Hits New 12-Month High – Still a Buy?

Shares of Brookfield Co. (NYSE:BN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $60.68 and last traded at $60.68, with a volume of 10296 shares. The stock had previously closed at $57.61.

Analysts Set New Price Targets

BN has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank lifted their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Price Performance

The firm has a market capitalization of $93.52 billion, a PE ratio of 120.83 and a beta of 1.53. The firm’s fifty day moving average price is $53.47 and its 200 day moving average price is $47.65. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s payout ratio is currently 68.09%.

Institutional Investors Weigh In On Brookfield

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC purchased a new position in Brookfield in the second quarter valued at $31,000. First Personal Financial Services acquired a new position in shares of Brookfield in the third quarter worth about $42,000. FSA Wealth Management LLC purchased a new stake in shares of Brookfield during the 3rd quarter worth about $42,000. Finally, Prestige Wealth Management Group LLC grew its position in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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.