Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase - Still a Buy?

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) shares saw an uptick in trading volume on Wednesday . 27,860 shares traded hands during 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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBU. Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada reduced their target price on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Monday, February 3rd.

Brookfield Business Partners Price Performance

The firm has a market cap of $1.84 billion, a PE ratio of -41.37 and a beta of 1.34. The company has a 50 day moving average price of $23.48 and a 200 day moving average price of $23.46. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly 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 expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

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Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were given 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 1.23%. Brookfield Business Partners's dividend payout ratio is currently -51.02%.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds have recently bought and sold shares of BBU. Intact Investment Management Inc. lifted its position in shares of Brookfield Business Partners by 52.6% in the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock valued at $68,000 after acquiring an additional 1,000 shares in the last quarter. BBR Partners LLC purchased a new position in shares of Brookfield Business Partners during the fourth quarter valued at approximately $241,000. Bank of New York Mellon Corp boosted its position in Brookfield Business Partners by 8.9% during 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 acquiring an additional 1,448 shares during the last quarter. Gold Investment Management Ltd. grew its stake in Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after acquiring an additional 1,017 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of 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 worth $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.

About Brookfield Business Partners

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.