Brookfield Co. (NYSE:BN) Short Interest Down 10.2% in October

Brookfield Co. (NYSE:BN) saw a significant 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. Based on an average daily volume of 1,820,000 shares, the days-to-cover ratio is presently 5.6 days. Currently, 0.8% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BN. Keefe, Bruyette & Woods increased their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. 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 research report on Friday, August 9th. Scotiabank lifted their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on 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 issued a buy rating to the company. According to data from MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Performance

NYSE:BN traded up $0.67 during trading hours on Tuesday, reaching $56.78. 1,267,603 shares of the stock were exchanged, compared to its average volume of 2,777,373. Brookfield has a 52 week low of $33.61 and a 52 week high of $60.20. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $93.50 billion, a P/E ratio of 119.39 and a beta of 1.53. The firm has a 50 day simple moving average of $53.65 and a 200-day simple moving average of $47.86.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

Institutional Investors Weigh In On Brookfield

A number of institutional investors have recently modified their holdings of BN. Vanguard Group Inc. boosted its stake in Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares during the period. Capital World Investors increased its position in Brookfield by 5.1% in the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares during the period. 1832 Asset Management L.P. raised its stake in Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after acquiring an additional 299,029 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Brookfield by 31.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares during the period. Finally, EdgePoint Investment Group Inc. grew its holdings in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares during the period. Institutional investors own 61.60% of the company’s stock.

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.