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

Key Points

• Brookfield Corporation shares reached a new 52-week high of $73.03, with analysts projecting a positive outlook and an average target price of $75.70.
• The company announced a dividend of $0.09 per share to be paid on September 29th, reflecting an annual yield of 0.5%.
• Brookfield's stock is set to undergo a 3-2 split on October 10th, which indicates a move to enhance liquidity and accessibility of shares for investors.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BN shares. The Goldman Sachs Group started coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They set a "buy" rating and a $78.00 price objective on the stock. National Bankshares set a $82.00 price objective on shares of Brookfield and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Cowen reaffirmed a "buy" rating on shares of Brookfield in a research note on Friday, August 8th. TD Securities increased their price target on shares of Brookfield from $74.00 to $82.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, National Bank Financial started coverage on shares of Brookfield in a research note on Tuesday, July 29th. They set an "outperform" rating and a $82.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $75.70.

Brookfield Stock Up 1.3%

The firm's 50-day moving average price is $66.71 and its 200-day moving average price is $59.54. The company has a market cap of $120.00 billion, a price-to-earnings ratio of 169.22 and a beta of 1.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18.

Brookfield's stock is set to split on Friday, October 10th. The 3-2 split was announced on Thursday, August 7th. The newly minted shares will be distributed to shareholders after the closing bell on Thursday, October 9th.

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

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, September 12th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Friday, September 12th. Brookfield's dividend payout ratio (DPR) is presently 83.72%.

Institutional Investors Weigh In On Brookfield

A number of large investors have recently added to or reduced their stakes in the company. Canal Capital Management LLC bought a new position in Brookfield during the 2nd quarter valued at $286,000. Valeo Financial Advisors LLC boosted its stake in Brookfield by 20.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,973 shares of the company's stock valued at $308,000 after acquiring an additional 848 shares during the last quarter. Osaic Holdings Inc. boosted its stake in Brookfield by 13.8% during the 2nd quarter. Osaic Holdings Inc. now owns 85,053 shares of the company's stock valued at $5,235,000 after acquiring an additional 10,298 shares during the last quarter. Orion Porfolio Solutions LLC boosted its stake in Brookfield by 110.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 43,392 shares of the company's stock valued at $2,684,000 after acquiring an additional 22,803 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company's stock valued at $1,577,000 after acquiring an additional 5,821 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

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.

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