Brookfield (NYSE:BN) Price Target Raised to $70.00 at CIBC

Brookfield (NYSE:BN) had its price target hoisted by CIBC from $68.00 to $70.00 in a research report report published on Thursday,Benzinga reports. CIBC currently has an outperformer rating on the stock.

A number of other equities analysts have also recently issued reports on BN. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank lifted their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Two 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Stock Performance

NYSE:BN opened at $59.52 on Thursday. 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 has a fifty-two week low of $38.18 and a fifty-two week high of $62.44. The firm’s fifty day simple moving average is $58.21 and its 200-day simple moving average is $52.96. The stock has a market cap of $97.95 billion, a PE ratio of 126.63 and a beta of 1.56.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.54%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. First Personal Financial Services purchased a new stake in shares of Brookfield in the third quarter valued at $42,000. FSA Wealth Management LLC acquired a new stake in Brookfield in the 3rd quarter worth about $42,000. Prestige Wealth Management Group LLC grew its holdings in Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after buying an additional 500 shares during the period. Continuum Advisory LLC acquired a new position in shares of Brookfield during the 3rd quarter valued at about $55,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after acquiring an additional 221 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

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.