Brookfield (NYSE:BN) Hits New 52-Week High – Time to Buy?

Brookfield Co. (NYSE:BN) hit a new 52-week high during trading on Thursday . The stock 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.

Wall Street Analyst Weigh In

BN has been the subject of a number of research analyst reports. Scotiabank upped their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday. Keefe, Bruyette & Woods raised their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets reissued an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Performance

The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The firm’s 50-day moving average price is $53.47 and its two-hundred day moving average price is $47.65. The stock has a market cap of $93.52 billion, a price-to-earnings ratio of 120.83 and a beta of 1.53.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares during the period. Capital World Investors raised its holdings in shares of Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after buying an additional 2,497,509 shares during the period. 1832 Asset Management L.P. lifted its stake in Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after acquiring an additional 299,029 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the period. Finally, EdgePoint Investment Group Inc. grew its position in Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after acquiring an additional 196,790 shares in the last quarter. Institutional investors and hedge funds 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.