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

04 Dec 2024, 16:03 by Michael Walen · The Markets Daily

Brookfield Co. (NYSE:BN – Get Free Report) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 10,730,000 shares, an increase of 5.9% from the October 31st total of 10,130,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 5.8 days. Currently, 0.9% of the company’s shares are short sold.

Brookfield Stock Down 0.6 %

Shares of BN traded down $0.35 during midday trading on Wednesday, hitting $60.67. The company had a trading volume of 424,328 shares, compared to its average volume of 2,742,003. Brookfield has a 1 year low of $35.44 and a 1 year high of $62.44. The company’s 50-day simple moving average is $55.68 and its 200-day simple moving average is $49.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a market capitalization of $99.91 billion, a P/E ratio of 129.85 and a beta of 1.55.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Institutional Trading of Brookfield

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. boosted its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Kings Path Partners LLC acquired a new position in Brookfield in the second quarter valued at $31,000. Family Firm Inc. acquired a new position in Brookfield in the 2nd quarter valued at about $36,000. First Personal Financial Services purchased a new stake in shares of Brookfield during the third quarter worth approximately $42,000. Finally, FSA Wealth Management LLC purchased a new position in Brookfield in the 3rd quarter valued at $42,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BN shares. TD Securities increased their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, Scotiabank increased their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $55.31.

Check Out Our Latest Research Report on BN

About Brookfield

(Get Free Report)