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

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $22.49, but opened at $22.98. Brookfield Business Partners shares last traded at $22.88, with a volume of 522 shares trading hands.

Brookfield Business Partners Stock Up 1.2 %

The business has a 50 day moving average price of $23.97 and a 200 day moving average price of $21.71. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12. The stock has a market cap of $1.69 billion, a PE ratio of 2.81 and a beta of 1.48.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.39. The company had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. During the same period in the previous year, the firm posted $1.33 EPS. Equities research analysts expect that Brookfield Business Partners L.P. will post 5.43 EPS for the current fiscal year.

Brookfield Business Partners Increases Dividend

The company also recently declared 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 represents a $0.25 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Friday, November 29th. This is a positive change from Brookfield Business Partners's previous quarterly dividend of $0.06. Brookfield Business Partners's payout ratio is presently 3.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Brookfield Corp ON grew its holdings in shares of Brookfield Business Partners by 1.7% during the 3rd quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider's stock worth $596,538,000 after purchasing an additional 428,511 shares during the period. PCJ Investment Counsel Ltd. raised 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 purchasing an additional 188,743 shares during the period. Bank of Montreal Can grew its position in shares of Brookfield Business Partners by 8.7% during the third quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider's stock worth $20,193,000 after acquiring an additional 66,786 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Brookfield Business Partners by 13.6% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider's stock valued at $18,145,000 after acquiring an additional 92,413 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its position in Brookfield Business Partners by 14.7% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider's stock worth $15,047,000 after acquiring an additional 82,372 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

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.