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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw strong trading volume on Wednesday . 23,888 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 15,070 shares.The stock last traded at $22.30 and had previously closed at $22.43.

Analysts Set New Price Targets

BBU has been the subject of several research reports. BMO Capital Markets upped their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd.

Brookfield Business Partners Trading Down 1.7 %

The company’s fifty day moving average is $23.07 and its two-hundred day moving average is $23.10. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -44.62 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. On average, research analysts anticipate that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.14%. Brookfield Business Partners’s dividend payout ratio is presently -51.02%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds have recently bought and sold shares of BBU. Intact Investment Management Inc. boosted its position in Brookfield Business Partners by 52.6% in the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock worth $68,000 after purchasing an additional 1,000 shares in the last quarter. BBR Partners LLC acquired a new stake in Brookfield Business Partners in the fourth quarter valued at approximately $241,000. Bank of New York Mellon Corp grew its holdings 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 valued at $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. grew its holdings 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 purchasing an additional 1,017 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Brookfield Business Partners by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock valued at $987,000 after purchasing an additional 1,146 shares during the period. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.