Brookfield Business Partners (NYSE:BBU) Shares Gap Down - What's Next?

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $22.77, but opened at $21.53. Brookfield Business Partners shares last traded at $22.45, with a volume of 1,415 shares changing hands.

Brookfield Business Partners Price Performance

The firm has a 50-day simple moving average of $23.94 and a 200-day simple moving average of $21.72. The firm has a market capitalization of $1.67 billion, a PE ratio of 2.77 and a beta of 1.48. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.39. The firm had revenue of $9.23 billion for the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same quarter last year, the company earned $1.33 EPS. As a group, equities analysts forecast that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.063 per share. This is an increase from Brookfield Business Partners's previous quarterly dividend of $0.06. The ex-dividend date is Friday, November 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.12%. Brookfield Business Partners's payout ratio is presently 3.09%.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Intact Investment Management Inc. purchased a new position in Brookfield Business Partners during the third quarter valued at approximately $45,000. Bank of New York Mellon Corp purchased a new position in shares of Brookfield Business Partners during the 2nd quarter valued at $307,000. Gold Investment Management Ltd. boosted its holdings in Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock worth $739,000 after buying an additional 2,169 shares during the period. The Manufacturers Life Insurance Company increased its stake in Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock worth $770,000 after buying an additional 608 shares in the last quarter. Finally, AYAL Capital Advisors Ltd increased its stake in Brookfield Business Partners by 97.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock worth $848,000 after buying an additional 22,200 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.