Brookfield (NYSE:BN) Sets New 52-Week High at $45.50

Brookfield Co. (NYSE:BN) shares hit a new 52-week high during trading on Friday . The company traded as high as $45.50 and last traded at $45.42, with a volume of 93548 shares traded. The stock had previously closed at $44.96.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Keefe, Bruyette & Woods cut their price objective on Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Friday. Finally, Scotiabank cut their price objective on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $47.90.

Brookfield Stock Performance

The company has a market cap of $75.10 billion, a P/E ratio of 73.70 and a beta of 1.52. The firm has a 50 day moving average price of $42.85 and a 200-day moving average price of $41.22. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm had revenue of $22.91 billion during the quarter. During the same quarter in the previous year, the company earned $0.72 EPS. On average, research analysts predict that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.70%. Brookfield’s payout ratio is 52.46%.

Insider Transactions at Brookfield

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Brookfield

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in Brookfield by 5.9% in the 3rd quarter. Deutsche Bank AG now owns 1,479,507 shares of the company’s stock valued at $46,264,000 after purchasing an additional 82,707 shares during the last quarter. Sunbelt Securities Inc. raised its position in Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after purchasing an additional 794 shares during the last quarter. Vanguard Group Inc. raised its position in Brookfield by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock valued at $1,733,286,000 after purchasing an additional 1,016,222 shares during the last quarter. Anchor Investment Management LLC bought a new stake in shares of Brookfield during the fourth quarter worth $432,000. Finally, Pacifica Partners Inc. raised its position in shares of Brookfield by 6.9% during the fourth quarter. Pacifica Partners Inc. now owns 101,470 shares of the company’s stock worth $4,071,000 after acquiring an additional 6,542 shares during the last quarter. 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.