|Bid||76.64 x 0|
|Ask||76.68 x 0|
|Day's Range||75.98 - 76.79|
|52 Week Range||49.87 - 78.62|
|Beta (3Y Monthly)||1.05|
|PE Ratio (TTM)||20.63|
|Forward Dividend & Yield||0.85 (1.11%)|
|1y Target Est||52.00|
Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM) is a top stock for income investors to buy if they’re concerned about market uncertainty.
BROOKFIELD, NEWS, Dec. 02, 2019 -- Brookfield Asset Management Inc. (TSX: BAM.A, NYSE: BAM) (“Brookfield”) today announced that it has determined the quarterly dividend on its.
The likelihood of a recession continues to grow each day, so picking up some recession-proof stocks like Brookfield Asset Management Inc (TSX:BAM.A)(NYSE:BAM) is the prudent move.
(Bloomberg) -- Brookfield Asset Management Inc., the Canadian money manager, is holding more cash and sees distressed debt as “highly attractive” as it girds for the next recession, said Chief Executive Officer Bruce Flatt.“We have more dry powder in funds, more cash on our balance sheet,” Flatt said in an interview with BNN Bloomberg Friday in Toronto. The investment firm is “getting ready for the point where we can capitalize on situations if the markets turn. If they don’t, we’ll be fine, we’ll just keep investing.”Earlier this month, Brookfield said its assets swelled to more than half a trillion dollars at the end of the third quarter and it had over $65 billion in capital available to continue its spending spree. Holdings ballooned to almost $511 billion after the Toronto-based alternative asset manager closed its purchase of a 61.2% stake in Oaktree Capital Group at the end of the quarter.“We added the Oaktree credit franchise to our business because we think that distressed credit at some point in time will be highly attractive, it will give us another arrow in our quiver when the market turns down,” he added.Flatt said Brookfield, whose stock traded at a record high Friday in New York, is “probably better set up today than we’ve ever been, we have more access to capital than we’ve ever had.”Though Flatt doesn’t see anything to suggest a recession is imminent, he said the firm is more cautious today than it was in the 2009 financial crisis.“In 2009, every dollar we possibly had other than the ones we were keeping just in case the market went down a little more, we knew if we invested it would be fine because you knew you were buying at 50 cents on the dollar,” Flatt said.India StressThe firm is looking to make more investments in places like India, which is facing financial stress much like the U.S. in 2008-2009. Brookfield already has 6,000 people employed in operating companies in India, along with 100 investment professionals.“India, for example, has a financial crisis situation going on which is similar to what happened in the United States in 2009, probably not quite as bad, but the banks are not in great shape and non-bank financials are in trouble,” he said. “And what that means is that entrepreneurs don’t have access to capital and therefore they’re selling assets.”Flatt played down concerns about too much money chasing alternative assets and that the global shift of assets from public to private markets could trigger steeper sell-offs and exacerbate a crisis.“We’re highly diversified, we’re in all these products, we’ve added credit recently,” he said. “If many people are bidding up infrastructure in a certain country, we just don’t participate. We have 29 other countries we can go to, we have three other businesses, so we can ebb and flow our capital. The worst thing anyone can do is have too much money in one sector and need to put it to work.”He’s also not very concerned about fee compression in the areas in which it operates.“I don’t think you can commoditize most forms of alternative management,” he said. “We buy businesses and we operate them. It’s hard work to build a building, you need lots of people. We don’t think that there will be a commoditization of the alternatives business soon and maybe never.”To contact the reporter on this story: Paula Sambo in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Nikolaj Gammeltoft at email@example.com, David Scanlan, Jacqueline ThorpeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- After selling three green project bonds in the U.S. and marketing a new one in Canada, Brookfield Asset Management’s renewable power business is setting its sights on South America and Asia.The Toronto-based company is selling bonds to refinance the existing debt of a pool of four hydroelectric facilities located in Ontario, according to a S&P Global Ratings. The securities are being sold via a private placement.In Brazil, the company is gathering third party assessments on its assets -- early work needed ahead of a potential deal. In India, where the company sees the potential for “rapid growth,” a separate bond is possible in the longer term, said Julian Deschâtelets, a managing director at Brookfield’s renewable power group.With more than $50 billion of renewable power assets on four continents, Brookfield is one of the most active players in the green debt markets in North America. The company raised $1.2 billion by pricing the three bonds backed by U.S.-based assets in the past two years and Brookfield Renewable Partners has raised C$900 million of green corporate bonds in Canada over two separate deals.“We see potential for more growth in the medium term for green debt tied to our actual investments,” said Deschâtelets. “It is about diversifying sources of debt capital.”In Brazil where Brookfield has more than $3.5 billion of renewable power assets, any green debt offering would be its first of that kind out of that country. The potential for a vibrant green bond market is growing as access to cheap loans from state-owned Banco Nacional de Desenvolvimento Economico e Social is reined in under the current government.“There is a great potential for us to be active there,” he said. “For Brazil it would be a local market, local currency.”In India, Brookfield Renewable could issue green project debt in the local currency should market conditions allow, Deschâtelets said. Alternatively, it could be a dollar denominated transaction. “Right now India is more difficult” with local bank and capital markets more challenging, he said. “A lot of issuers are looking to raise capital outside.”Brookfield is in talks to invest $800 million in India’s largest green energy company ReNew Power Ltd., The Economic Times reported on Nov. 8, citing unidentified people familiar with the matter. A press officer for Brookfield declined to comment.Finally, in China, where the firm is pursuing a “measured” growth strategy, the company could consider a green debt deal at some point he said. Brookfield has a roof solar panel operation with Singapore’s GLP Pte Ltd, and the joint venture has issued an $15 million offshore green bond.Investors with green mandates make up just 15% to 20% of accounts taking part in Brookfield’s green bonds so far, Deschâtelets said.Still, it makes sense to have a presence in this asset type because that will grow, Deschâtelets said. “It will be beneficial for us to have done work and issuance because over time it will lead to pricing benefit potentially,” he said.\--With assistance from Pablo Gonzalez.To contact the reporter on this story: Esteban Duarte in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Nikolaj Gammeltoft at email@example.com, Christopher DeReza, Rizal TupazFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Brookfield Asset Management Inc (TSX:BAM.A)(NYSE:BAM) is the greatest capital compounder of our generation, and Bruce Flatt is the best CEO in North America. Is this stock a bargain at the current market price?
Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM) could be in a strong position to cash in on a big change in foreign investment markets.
Careful investing is the way to get the best of out your retirement savings. Fortis stock, Nutrien stock, and Brookfield Asset Management stock can help you with that.
(Bloomberg) -- Brookfield Asset Management Inc.’s said its assets swelled to more than half a trillion dollars at the end of the third quarter and it had over $65 billion in capital available to continue its spending spree.Assets ballooned to almost $511 billion after the Toronto-based alternative asset manager closed its purchase of a 61.2% stake in Oaktree Capital Group at the end of the quarter.“All of this positions us well for the coming several years,” Bruce Flatt, Brookfield chief executive officer said in a letter to investors Thursday with its quarterly results. “As our cash generation continues to grow, we will need to decide if, when, and how to return capital to shareholders.”The company’s next round of funds, including credit, should reach $100 billion, he said.Brookfield shares reached a record high of C$77.23 in Toronto and have gained 45% this year for a market value of about C$79 billion ($60 billion).Low RatesInstitutional investors are increasingly looking to alternative assets managers, like Brookfield, with interest rates low and potentially going lower when a global slowdown occurs, Flatt said.With rates in Japan and Europe already in negative territory, Brookfield believes the world is in a new phase of global rates in a range of -2% to 2% for the next five to seven years, he said.“This is particularly relevant for us and will positively impact on all asset values and businesses that generate cash,” he added.Fee-related earnings from the company before performance fees increased 35% year over year, excluding the impact of the Oaktree acquisition, which closed at quarter end, Brookfield said. Brookfield’s net income grew to $1.8 billion during the third quarter, from $941 million during the same period last year, it said.To contact the reporter on this story: Scott Deveau in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Liana Baker at email@example.com, Jacqueline Thorpe, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Net Income almost doubles to $1.8 billion or $0.91 per shareFFO of $826 million or $0.80 per share BROOKFIELD, NEWS, Nov. 14, 2019 -- Brookfield Asset Management Inc..
Partners Value Investments LP (TSX:PVF.UN) is an investment holding company trading at a huge discount. The company is a levered play on one of Canada’s best companies.
The Westaim Corporation (TSXV:WED) has a strong balance sheet, trades at a low earnings and book value multiple, and insiders have been purchasing a lot of stock. Is there an opportunity here?
Acadian Timber Corp. (TSX:ADN) owns 2.4 million acres of land and is a leading supplier of primary forest products. The company’s stock has been negatively impacted by Brookfield’s sale of a 45% stake. Does this present the greatest buying opportunity of a lifetime?