Brookfield Co. (NYSE:BN) Short Interest Update

Brookfield Co. (NYSE:BN) saw a significant 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. Approximately 0.9% of the shares of the company are short sold. Based on an average daily volume of 3,310,000 shares, the short-interest ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

BN has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target 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. Scotiabank upped their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets upped their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $51.59.

Hedge Funds Weigh In On Brookfield

Hedge funds have recently made changes to their positions in the business. Fortis Group Advisors LLC grew its stake in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC acquired a new position in shares of Brookfield in the second quarter worth about $31,000. Family Firm Inc. acquired a new position in shares of Brookfield in the second quarter worth about $36,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Brookfield in the first quarter worth about $42,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Brookfield stock traded down $0.06 during trading hours on Tuesday, hitting $53.09. 1,894,559 shares of the company traded hands, compared to its average volume of 3,019,372. The firm has a market cap of $87.26 billion, a P/E ratio of 87.03 and a beta of 1.53. 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 firm’s 50-day simple moving average is $48.35 and its two-hundred day simple moving average is $44.44. Brookfield has a 1-year low of $28.84 and a 1-year high of $54.29.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. As a group, analysts forecast 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. Stockholders of record on Thursday, September 12th were paid 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 currently 52.46%.

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.