Brookfield Co. (NYSE:BN) Short Interest Update

Brookfield Co. (NYSE:BN) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 10,130,000 shares, a decline of 10.2% from the October 15th total of 11,280,000 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 1,820,000 shares, the short-interest ratio is presently 5.6 days.

Brookfield Price Performance

BN stock traded up $0.67 during mid-day trading on Tuesday, reaching $56.78. The company’s stock had a trading volume of 1,267,603 shares, compared to its average volume of 2,777,373. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The company’s 50 day moving average is $53.65 and its two-hundred day moving average is $47.86. Brookfield has a fifty-two week low of $33.61 and a fifty-two week high of $60.20. The stock has a market cap of $93.50 billion, a PE ratio of 119.39 and a beta of 1.53.

Brookfield Announces Dividend

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

Institutional Investors Weigh In On Brookfield

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the period. Capital World Investors increased its stake in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. raised its position in Brookfield by 1.3% in the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield by 31.6% in 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 purchasing an additional 2,818,716 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its holdings in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on BN. Keefe, Bruyette & Woods raised their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday. Finally, Scotiabank upped their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

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.