Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume

Brookfield Business Partners L.P. (NYSE:BBU) shares saw unusually-strong trading volume on Monday . Approximately 26,672 shares changed hands during mid-day trading, an increase of 87% from the previous session’s volume of 14,266 shares.The stock last traded at $19.45 and had previously closed at $19.46.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BBU. BMO Capital Markets lifted their price objective on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Cibc World Mkts raised shares of Brookfield Business Partners to a “strong-buy” rating in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Brookfield Business Partners in a research note on Monday, August 5th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $30.50.

Brookfield Business Partners Price Performance

The company has a debt-to-equity ratio of 2.23, a current ratio of 1.10 and a quick ratio of 0.84. The company has a fifty day moving average price of $19.23 and a 200 day moving average price of $20.23. The company has a market capitalization of $1.47 billion, a P/E ratio of 3.04 and a beta of 1.47.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a return on equity of 21.64% and a net margin of 7.08%. The firm had revenue of $11.95 billion during the quarter. During the same period last year, the business posted $0.85 EPS. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Friday, August 30th. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Business Partners during the 2nd quarter valued at $307,000. Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter worth about $618,000. Russell Investments Group Ltd. lifted its holdings in Brookfield Business Partners by 44.1% in the 4th quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after acquiring an additional 15,344 shares during the last quarter. Montrusco Bolton Investments Inc. boosted its position 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 valued at $1,231,000 after purchasing an additional 20,891 shares in the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners in the 1st quarter worth approximately $1,405,000. 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.