Brookfield Co. (NYSE:BN) Sees Large Decline in Short Interest

Brookfield Co. (NYSE:BN) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 8,600,000 shares, a drop of 36.1% from the December 15th total of 13,460,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 1,850,000 shares, the days-to-cover ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank raised their price target on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after purchasing an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after buying an additional 9,915 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after buying an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG grew its holdings in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after acquiring an additional 142,603 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN traded up $0.62 during trading hours on Friday, hitting $58.20. The company had a trading volume of 638,003 shares, compared to its average volume of 2,593,382. The business has a 50 day moving average of $58.11 and a 200-day moving average of $52.38. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. Brookfield has a 1-year low of $38.18 and a 1-year high of $62.44. The company has a market cap of $87.79 billion, a PE ratio of 123.85 and a beta of 1.56.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.55%. Brookfield’s payout ratio is 68.09%.

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.