Brookfield (NYSE:BN) Hits New 12-Month High – Should You Buy?

Brookfield Co. (NYSE:BN) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $62.12 and last traded at $61.97, with a volume of 127433 shares trading hands. The stock had previously closed at $61.39.

Analyst Upgrades and Downgrades

BN has been the topic of a number of research analyst reports. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, TD Securities upped their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Performance

The stock has a market cap of $100.50 billion, a PE ratio of 129.85 and a beta of 1.55. The stock has a fifty day moving average of $55.52 and a 200-day moving average of $48.94. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Hedge Funds Weigh In On Brookfield

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Brookfield in the 2nd quarter valued at approximately $128,321,000. The Manufacturers Life Insurance Company boosted its stake in shares of Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after buying an additional 2,818,716 shares in the last quarter. Wulff Hansen & CO. boosted its stake in shares of Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after buying an additional 1,505,372 shares in the last quarter. Toronto Dominion Bank grew its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in Brookfield by 4,149.3% in the third quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after acquiring an additional 758,076 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

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.