Brookfield Business Partners (NYSE:BBU) Shares Down 3.1%

Shares of Brookfield Business Partners L.P. (NYSE:BBU) were down 3.1% during mid-day trading on Monday . The company traded as low as $18.22 and last traded at $18.22. Approximately 199 shares traded hands during trading, a decline of 99% from the average daily volume of 13,796 shares. The stock had previously closed at $18.80.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Royal Bank of Canada reduced their target price on Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Monday, May 6th. TheStreet cut Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. Finally, Cibc World Mkts raised Brookfield Business Partners to a “strong-buy” rating in a research report on Tuesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $30.33.

Brookfield Business Partners Stock Up 2.0 %

The business’s 50-day moving average price is $18.83 and its 200-day moving average price is $20.27. The company has a quick ratio of 0.84, a current ratio of 1.10 and a debt-to-equity ratio of 2.23. The firm has a market capitalization of $1.44 billion, a PE ratio of 2.98 and a beta of 1.47.

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

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 31st were given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, May 31st. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.92%.

Institutional Trading of Brookfield Business Partners

A number of hedge funds have recently made changes to their positions in BBU. Gold Investment Management Ltd. purchased a new stake in shares of Brookfield Business Partners in the fourth quarter worth approximately $618,000. Russell Investments Group Ltd. grew its position in Brookfield Business Partners by 44.1% in the fourth quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock worth $1,039,000 after acquiring an additional 15,344 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in shares of Brookfield Business Partners by 54.3% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock worth $1,231,000 after purchasing an additional 20,891 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Business Partners during the 1st quarter valued at $1,405,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Brookfield Business Partners by 35.7% in 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 during the last quarter. 85.04% of the stock is owned by hedge funds and other 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.