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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw an uptick in trading volume on Wednesday . 27,860 shares were traded during mid-day trading, an increase of 90% from the previous session’s volume of 14,641 shares.The stock last traded at $24.05 and had previously closed at $23.46.

Wall Street Analyst Weigh In

Several research firms recently commented on BBU. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reduced their target price 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 0.1 %

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 stock has a market cap of $2.18 billion, a P/E ratio of -48.94 and a beta of 1.50. The company has a 50-day simple moving average of $23.43 and a 200-day simple moving average of $23.44.

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

Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.04%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -51.02%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BBU. Intact Investment Management Inc. increased its stake in shares of 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 valued at $68,000 after buying an additional 1,000 shares during the period. BBR Partners LLC acquired a new stake in Brookfield Business Partners in the fourth quarter worth about $241,000. 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 purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. raised its holdings in Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock worth $767,000 after purchasing an additional 1,017 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in 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 purchasing an additional 1,146 shares during the period. Institutional investors and hedge funds 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.