Short Interest in Brookfield Co. (NYSE:BN) Decreases By 10.2%

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

Brookfield Stock Performance

Shares of NYSE:BN traded up $0.67 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 debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield has a 52-week low of $33.61 and a 52-week high of $60.20. The stock’s 50-day moving average is $53.65 and its two-hundred day moving average is $47.86. The stock has a market capitalization of $93.50 billion, a P/E ratio of 119.39 and a beta of 1.53.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.56%. Brookfield’s dividend payout ratio is currently 68.09%.

Institutional Trading of Brookfield

Several hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers raised its holdings in Brookfield by 1,022.6% during the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after buying an additional 80,762 shares in the last quarter. Callan Family Office LLC purchased a new position in Brookfield in the second quarter worth $446,000. Acadian Asset Management LLC lifted its holdings in Brookfield by 352.5% in the first quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock valued at $8,232,000 after acquiring an additional 153,205 shares during the period. Finally, Leavell Investment Management Inc. grew its stake in shares of Brookfield by 373.2% during the 3rd quarter. Leavell Investment Management Inc. now owns 35,118 shares of the company’s stock worth $1,867,000 after purchasing an additional 27,696 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research analyst reports. BMO Capital Markets reissued 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. Scotiabank raised their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reduced their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

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.