Brookfield Business Partners (NYSE:BBU) Shares Up 4.1% - Time to Buy?

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) shot up 4.1% on Tuesday . The company traded as high as $23.47 and last traded at $23.53. 12,809 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 14,976 shares. The stock had previously closed at $22.60.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BBU. Scotiabank reaffirmed an "outperform" rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Royal Bank of Canada lowered their price objective on 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. Finally, BMO Capital Markets increased their price target on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 10th.

Brookfield Business Partners Price Performance

The stock has a fifty day moving average price of $23.11 and a 200-day moving average price of $23.20. The firm has a market capitalization of $2.09 billion, a PE ratio of -47.01 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50.

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 (EPS) 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%. Sell-side analysts forecast that Brookfield Business Partners L.P. will post 5.25 EPS for the current fiscal year.

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Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.09%. Brookfield Business Partners's dividend payout ratio is presently -51.02%.

Institutional Trading of Brookfield Business Partners

Institutional investors have recently made changes to their positions in the business. Intact Investment Management Inc. boosted its position in shares of Brookfield Business Partners by 52.6% in the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock worth $68,000 after purchasing an additional 1,000 shares in the last quarter. BBR Partners LLC acquired a new stake in shares of Brookfield Business Partners in the 4th quarter worth $241,000. Bank of New York Mellon Corp boosted its position in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock worth $415,000 after purchasing an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. boosted its position in shares of 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 purchasing an additional 1,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Business Partners by 2.8% in 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 in the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

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.