Short Interest in Brookfield Business Partners L.P. (NYSE:BBU) Decreases By 37.7%

Brookfield Business Partners L.P. (NYSE:BBU) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 19,800 shares, a drop of 37.7% from the January 31st total of 31,800 shares. Based on an average daily volume of 18,000 shares, the short-interest ratio is presently 1.1 days. Approximately 0.0% of the company’s stock are sold short.

Brookfield Business Partners Stock Performance

Shares of BBU traded down $1.07 during trading hours on Monday, hitting $23.97. The stock had a trading volume of 14,040 shares, compared to its average volume of 17,396. The firm has a market capitalization of $1.78 billion, a PE ratio of -48.91 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75. The stock has a fifty day moving average price of $23.01 and a 200 day moving average price of $22.96.

Brookfield Business Partners (NYSE:BBU) last released 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%. Analysts anticipate that Brookfield Business Partners will post 5.25 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 dividend on an annualized basis and a yield of 1.04%. Brookfield Business Partners’s dividend payout ratio is currently -51.02%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price target on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Finally, BMO Capital Markets lifted their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Intact Investment Management Inc. bought a new stake in shares of Brookfield Business Partners during the 3rd quarter valued at $45,000. BBR Partners LLC purchased a new position in Brookfield Business Partners during the fourth quarter valued at $241,000. Bank of New York Mellon Corp lifted 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 valued at $415,000 after purchasing an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 2,169 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Brookfield Business Partners by 2.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock worth $987,000 after buying an additional 1,146 shares in the last quarter. 85.04% of the stock is currently owned by 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.