Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 16,743 shares changed hands during mid-day trading, a decline of 13% from the previous session's volume of 19,233 shares.The stock last traded at $23.27 and had previously closed at $22.69.
Analyst Upgrades and Downgrades
BBU has been the subject of a number of research reports. Royal Bank of Canada cut their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note 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, Scotiabank upped their price objective on shares of Brookfield Business Partners from $32.00 to $33.00 and gave the company a "sector outperform" rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.33.
View Our Latest Stock Report on Brookfield Business Partners
Brookfield Business Partners Stock Up 2.0 %
The firm has a market cap of $1.86 billion, a PE ratio of -51.06 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 0.50. The company's 50-day simple moving average is $22.73 and its two-hundred day simple moving average is $22.51.
Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. On average, analysts predict that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.
Brookfield Business Partners Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.0625 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.00%. Brookfield Business Partners's dividend payout ratio is -51.02%.
Institutional Investors Weigh In On Brookfield Business Partners
Institutional investors and hedge funds have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Brookfield Business Partners by 13.6% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider's stock worth $18,145,000 after purchasing an additional 92,413 shares during the period. Principal Financial Group Inc. increased its stake in shares of Brookfield Business Partners by 29.9% in the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock worth $2,731,000 after acquiring an additional 26,947 shares in the last quarter. Caldwell Investment Management Ltd. bought a new position in shares of Brookfield Business Partners in the 4th quarter worth about $1,731,000. PCJ Investment Counsel Ltd. increased its stake in shares of Brookfield Business Partners by 14.2% in 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 acquiring an additional 188,743 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Brookfield Business Partners by 12,276.3% in the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider's stock worth $6,076,000 after acquiring an additional 258,662 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.
About Brookfield Business Partners
(
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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.
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