Brookfield Co. (NYSE:BN) Short Interest Up 6.4% in November

Brookfield Co. (NYSE:BN) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 11,420,000 shares, a growth of 6.4% from the November 15th total of 10,730,000 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,790,000 shares, the short-interest ratio is presently 6.4 days.

Brookfield Price Performance

Shares of NYSE BN traded down $0.14 during trading on Tuesday, hitting $59.01. 2,525,895 shares of the company were exchanged, compared to its average volume of 2,722,797. The firm’s fifty day moving average price is $57.00 and its 200 day moving average price is $50.15. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The company has a market cap of $97.17 billion, a price-to-earnings ratio of 125.55 and a beta of 1.55. Brookfield has a 1 year low of $37.77 and a 1 year high of $62.44.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s payout ratio is currently 68.09%.

Institutional Trading of Brookfield

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank lifted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. 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 an average rating of “Moderate Buy” and a consensus target price of $55.31.

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.