Brookfield Co. (NYSE:BN) Short Interest Update

Brookfield Co. (NYSE:BN) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 11,390,000 shares, an increase of 10.3% from the August 31st total of 10,330,000 shares. Based on an average daily volume of 3,310,000 shares, the days-to-cover ratio is presently 3.4 days. Currently, 0.9% of the company’s shares are sold short.

Institutional Trading of Brookfield

Several institutional investors have recently added to or reduced their stakes in BN. Capital World Investors raised its holdings in Brookfield by 102.2% in the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock valued at $1,982,903,000 after acquiring an additional 24,975,364 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Brookfield in the second quarter valued at $128,321,000. M&G Plc acquired a new stake in Brookfield in the first quarter valued at $111,222,000. Wulff Hansen & CO. raised its holdings in Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after acquiring an additional 1,505,372 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Brookfield in the first quarter valued at $55,166,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 0.1 %

Shares of NYSE BN traded down $0.06 during trading on Tuesday, reaching $53.09. 1,894,559 shares of the stock were exchanged, compared to its average volume of 3,019,372. The business’s 50-day moving average price is $48.35 and its 200 day moving average price is $44.44. Brookfield has a twelve month low of $28.84 and a twelve month high of $54.29. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $87.26 billion, a price-to-earnings ratio of 87.03 and a beta of 1.53.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Brookfield will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio is presently 52.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BN. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Scotiabank boosted their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. TD Securities boosted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.59.

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.