Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume – What’s Next?

Brookfield Business Partners L.P. (NYSE:BBU) shares saw unusually-strong trading volume on Wednesday . Approximately 45,101 shares were traded during trading, an increase of 150% from the previous session’s volume of 18,071 shares.The stock last traded at $24.49 and had previously closed at $23.87.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BBU shares. BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Royal Bank of Canada dropped their price target on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $32.33.

Brookfield Business Partners Price Performance

The stock has a market capitalization of $1.81 billion, a P/E ratio of -49.74 and a beta of 1.50. The business has a fifty day simple moving average of $23.07 and a 200-day simple moving average of $23.01. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. Sell-side analysts expect that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.0625 per share. The ex-dividend date is Friday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.03%. Brookfield Business Partners’s dividend payout ratio is currently -51.02%.

Institutional Trading of Brookfield Business Partners

A number of hedge funds have recently bought and sold shares of BBU. Intact Investment Management Inc. increased its position in shares of Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 1,000 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in Brookfield Business Partners by 3.2% in the fourth quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 1,017 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock valued at $987,000 after acquiring an additional 1,146 shares during the period. Bank of New York Mellon Corp increased its position in Brookfield Business Partners by 8.9% in the fourth quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after buying an additional 1,448 shares during the last quarter. Finally, K2 Principal Fund L.P. increased its holdings in Brookfield Business Partners by 5.8% in the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider’s stock worth $1,227,000 after acquiring an additional 2,880 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors.

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.