Brookfield (NYSE:BN) Shares Up 1.5% - Should You Buy?

Key Points

• Brookfield Corporation's shares increased by 1.5% during mid-day trading, with a last trade price of $46.21, following a previous close at $45.50.
• JPMorgan recently raised its target price for Brookfield from $48.67 to $55.33 and assigned an "overweight" rating, while the average rating across analysts is a "Buy" with a consensus price target of $52.63.
• Brookfield has a high dividend payout ratio of 82.76% and recently declared a quarterly dividend of $0.06 per share, resulting in a yield of 0.5%.

Brookfield Corporation (NYSE:BN - Get Free Report) shares shot up 1.5% during mid-day trading on Friday . The stock traded as high as $46.56 and last traded at $46.21. 2,619,663 shares changed hands during trading, a decline of 16% from the average session volume of 3,127,712 shares. The stock had previously closed at $45.50.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BN. JPMorgan Chase & Co. increased their target price on Brookfield from $48.67 to $55.33 and gave the stock an "overweight" rating in a report on Friday, October 3rd. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. The Goldman Sachs Group started coverage on Brookfield in a report on Tuesday, September 2nd. They set a "buy" rating and a $52.00 target price on the stock. Morgan Stanley set a $54.00 price objective on Brookfield and gave the company an "overweight" rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Brookfield in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $52.63.

Brookfield Stock Up 1.5%

The company has a debt-to-equity ratio of 1.50, a current ratio of 1.29 and a quick ratio of 1.18. The stock has a market capitalization of $114.35 billion, a P/E ratio of 161.18 and a beta of 1.75. The firm has a 50-day simple moving average of $45.00 and a 200 day simple moving average of $41.44.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.59 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.59. Brookfield had a return on equity of 3.77% and a net margin of 1.11%.The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.44 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Friday, September 12th. Brookfield's dividend payout ratio (DPR) is 82.76%.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently made changes to their positions in the stock. MGO One Seven LLC raised its position in shares of Brookfield by 2.3% during the third quarter. MGO One Seven LLC now owns 44,186 shares of the company's stock worth $3,030,000 after acquiring an additional 1,000 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in Brookfield by 777.8% in the third quarter. Citizens Financial Group Inc. RI now owns 45,777 shares of the company's stock worth $3,139,000 after purchasing an additional 40,562 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Brookfield in the third quarter worth approximately $1,203,000. Opal Wealth Advisors LLC increased its holdings in Brookfield by 8.0% in the third quarter. Opal Wealth Advisors LLC now owns 3,470 shares of the company's stock worth $238,000 after purchasing an additional 258 shares in the last quarter. Finally, Culbertson A N & Co. Inc. increased its holdings in Brookfield by 2.3% in the third quarter. Culbertson A N & Co. Inc. now owns 98,404 shares of the company's stock worth $6,749,000 after purchasing an additional 2,218 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.

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