Brookfield (NYSE:BN) Stock Sees Heavy Put Option Buying

Brookfield Corporation (NYSE:BN) was the target of some unusual options trading on Friday. Traders acquired 5,612 put options on the stock. This is an increase of 185% compared to the average volume of 1,967 put options.

Brookfield Price Performance

BN opened at $37.11 on Friday. The firm has a market cap of $91.00 billion, a PE ratio of 67.48 and a beta of 1.56. The stock has a 50-day moving average price of $39.98 and a 200-day moving average price of $42.48. Brookfield has a 1 year low of $35.69 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. Sell-side analysts predict that Brookfield will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield’s dividend payout ratio is presently 50.91%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD increased their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Scotiabank reissued an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Finally, Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Hedge Funds Weigh In On Brookfield

A number of hedge funds have recently added to or reduced their stakes in the company. Silicon Valley Capital Partners purchased a new stake in Brookfield during the 2nd quarter valued at $32,000. Seneschal Advisors LLC lifted its holdings in shares of Brookfield by 49.9% during the fourth quarter. Seneschal Advisors LLC now owns 1,012 shares of the company’s stock valued at $46,000 after purchasing an additional 337 shares in the last quarter. South Plains Financial Inc. bought a new position in shares of Brookfield during the fourth quarter valued at $50,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Brookfield by 203.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after purchasing an additional 824 shares in the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Brookfield by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,200 shares of the company’s stock valued at $55,000 after buying an additional 400 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Company Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.