Brookfield Business Partners (NYSE:BBU) Trading 4% Higher

Brookfield Business Partners L.P. (NYSE:BBU) was up 4% on Wednesday . The stock traded as high as $17.64 and last traded at $17.64. Approximately 7,584 shares were traded during trading, a decline of 45% from the average daily volume of 13,803 shares. The stock had previously closed at $16.96.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BBU. Cibc World Mkts raised Brookfield Business Partners to a “strong-buy” rating in a report on Tuesday, May 7th. BMO Capital Markets lifted their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Royal Bank of Canada dropped their price target on Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. Finally, TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a research note on Wednesday, March 13th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $30.33.

Brookfield Business Partners Stock Up 6.2 %

The firm has a 50 day simple moving average of $18.96 and a two-hundred day simple moving average of $20.28. The company has a market capitalization of $1.34 billion, a PE ratio of 2.82 and a beta of 1.45. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 2.23.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, May 3rd. The business services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.63). The business had revenue of $12.02 billion during the quarter. Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.64%. Research analysts expect that Brookfield Business Partners L.P. will post 4.16 EPS for the current year.

Brookfield Business Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 31st will be issued a $0.0625 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.25 annualized dividend and a dividend yield of 1.39%. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. K2 Principal Fund L.P. grew its holdings in Brookfield Business Partners by 58.3% in the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock valued at $3,455,000 after purchasing an additional 57,553 shares during the last quarter. Principal Financial Group Inc. grew its stake in Brookfield Business Partners by 35.7% during the 1st quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 23,258 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners in the 1st quarter worth approximately $1,405,000. Partners Value Investments L.P. grew its position in shares of Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after acquiring an additional 19,061 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in shares of Brookfield Business Partners in the 4th quarter worth approximately $618,000. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. is a private equity firm specializing in acquisition. The firm typically invests in business services, infrastructure services, construction, energy, and industrials sector. It prefers to take majority stake in companies. The firm seeks returns of at least 15% on its investments.