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 during 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. Based on an average trading volume of 3,310,000 shares, the short-interest ratio is currently 3.4 days. Currently, 0.9% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nicholas Hoffman & Company LLC. raised its holdings in Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares in the last quarter. Blue Trust Inc. raised its holdings in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. Mckinley Capital Management LLC raised its holdings in Brookfield by 0.9% in the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after acquiring an additional 283 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Brookfield by 4.5% in the first quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after acquiring an additional 288 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Brookfield by 20.6% in the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a 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 on the stock in a report on Friday, August 9th. BMO Capital Markets upped their price objective 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. Scotiabank upped their price objective 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. Finally, 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. Two 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, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Trading Down 0.1 %

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

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities analysts anticipate that Brookfield will post 3.84 EPS for the current 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. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s payout ratio is 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.