Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume After Dividend Announcement

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-strong trading volume on Monday following a dividend announcement from the company. Approximately 21,102 shares were traded during mid-day trading, an increase of 50% from the previous session's volume of 14,059 shares.The stock last traded at $24.44 and had previously closed at $25.02.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be issued a $0.063 dividend. This is a boost from Brookfield Business Partners's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.25 annualized dividend and a yield of 1.01%. Brookfield Business Partners's dividend payout ratio is 3.09%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an "outperform" rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $31.40.

Brookfield Business Partners Trading Up 0.0 %

The company's 50-day moving average is $22.48 and its 200-day moving average is $20.46. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 3.09 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.39. The company had revenue of $9.23 billion for the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same quarter in the previous year, the company posted $1.33 earnings per share. On average, research analysts predict that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current year.

Institutional Trading of Brookfield Business Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBU. PCJ Investment Counsel Ltd. grew its position in shares of Brookfield Business Partners by 14.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider's stock worth $35,528,000 after buying an additional 188,743 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider's stock worth $15,036,000 after acquiring an additional 22,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider's stock valued at $12,910,000 after acquiring an additional 77,017 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 14.7% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider's stock valued at $15,047,000 after purchasing an additional 82,372 shares during the period. Finally, K2 Principal Fund L.P. boosted its position in shares of Brookfield Business Partners by 58.3% in the 1st quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider's stock worth $3,455,000 after purchasing an additional 57,553 shares during the last quarter. 85.04% of the stock is 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.