Brookfield (NYSE:BN) Sets New 12-Month Low – What’s Next?

Shares of Brookfield Corporation (NYSE:BN) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $36.08 and last traded at $36.4550, with a volume of 5606451 shares. The stock had previously closed at $36.27.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BN. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. Scotia increased their price target on Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a report on Monday, July 27th. TD lifted their price objective on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Stock Up 0.2%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. The company has a market cap of $89.54 billion, a P/E ratio of 66.39 and a beta of 1.56. The stock has a 50 day moving average price of $40.59 and a 200 day moving average price of $42.60.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. Research analysts expect that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were given a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield’s dividend payout ratio (DPR) is 50.91%.

Hedge Funds Weigh In On Brookfield

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Brookfield by 40.5% during the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after buying an additional 32,760,558 shares in the last quarter. Capital World Investors increased its holdings in shares of Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after buying an additional 30,755,354 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Brookfield by 46.3% in the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock valued at $1,644,200,000 after buying an additional 11,323,960 shares in the last quarter. Akre Capital Management LLC lifted its position in shares of Brookfield by 39.7% during the 4th quarter. Akre Capital Management LLC now owns 26,843,633 shares of the company’s stock valued at $1,231,854,000 after acquiring an additional 7,627,692 shares during the last quarter. Finally, First Manhattan CO. LLC. lifted its position in shares of Brookfield by 47.5% during the 4th quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock valued at $1,093,985,000 after acquiring an additional 7,662,565 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.