JPMorgan Chase & Co. Raises Brookfield (NYSE:BN) Price Target to $52.00

Brookfield (NYSE:BN) had its target price raised by research analysts at JPMorgan Chase & Co. from $49.00 to $52.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 6.95% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada decreased their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Finally, Scotiabank decreased their target price on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.90.

Brookfield Price Performance

Brookfield stock traded up $0.77 during trading hours on Wednesday, hitting $48.62. 710,499 shares of the company traded hands, compared to its average volume of 3,230,406. Brookfield has a 1-year low of $28.84 and a 1-year high of $48.71. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The firm’s 50-day simple moving average is $43.50 and its two-hundred day simple moving average is $41.91. The firm has a market cap of $79.91 billion, a P/E ratio of 79.80 and a beta of 1.52.

Brookfield (NYSE:BN) last posted its quarterly earnings data 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 net margin of 1.16% and a return on equity of 3.15%. The company had revenue of $22.91 billion during the quarter. During the same quarter last year, the business posted $0.72 EPS. As a group, analysts forecast that Brookfield will post 3.35 earnings per share for the current fiscal year.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Brookfield

A number of institutional investors have recently modified their holdings of BN. Raymond James Financial Services Advisors Inc. raised its position in shares of Brookfield by 7.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 180,877 shares of the company’s stock valued at $7,257,000 after purchasing an additional 12,083 shares during the period. Pacer Advisors Inc. bought a new position in shares of Brookfield in the fourth quarter valued at approximately $525,000. Essex Savings Bank bought a new position in shares of Brookfield in the fourth quarter valued at approximately $201,000. Venturi Wealth Management LLC raised its position in shares of Brookfield by 35.3% in the fourth quarter. Venturi Wealth Management LLC now owns 20,300 shares of the company’s stock valued at $814,000 after purchasing an additional 5,300 shares during the period. Finally, Autumn Glory Partners LLC bought a new position in shares of Brookfield in the fourth quarter valued at approximately $246,000. Institutional investors own 61.60% of the company’s stock.

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.