Short Interest in Brookfield Co. (NYSE:BN) Expands By 10.3%

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Scotiabank lifted their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Institutional Investors Weigh In On Brookfield

Several institutional investors and hedge funds have recently made changes to their positions in the business. American National Bank & Trust Co. VA acquired a new position in Brookfield in the 1st quarter valued at about $5,716,000. M&G Plc acquired a new position in Brookfield in the 1st quarter valued at about $111,222,000. Cetera Investment Advisers raised its stake in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Perpetual Ltd acquired a new position in Brookfield in the 1st quarter valued at about $1,388,000. Finally, Forsta AP Fonden raised its stake in Brookfield by 12.8% in the 1st quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock valued at $10,882,000 after purchasing an additional 29,500 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Price Performance

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

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.24 billion. During the same period in the previous year, the firm earned $0.75 EPS. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Brookfield will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

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

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.