Brookfield Business Partners (NYSE:BBU) Stock Price Up 3.4% – Here’s What Happened

Brookfield Business Partners L.P. (NYSE:BBU)’s share price shot up 3.4% on Tuesday . The stock traded as high as $22.81 and last traded at $22.81. 9,082 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 14,672 shares. The stock had previously closed at $22.07.

Brookfield Business Partners Trading Up 6.1 %

The company’s 50-day moving average is $23.91 and its 200 day moving average is $21.85. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The firm has a market cap of $1.74 billion, a PE ratio of 2.89 and a beta of 1.48.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The company had revenue of $9.23 billion during the quarter. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, sell-side analysts predict that Brookfield Business Partners L.P. will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.063 per share. The ex-dividend date was Friday, November 29th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 dividend on an annualized basis and a yield of 1.08%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.09%.

Hedge Funds Weigh In On Brookfield Business Partners

Large investors have recently made changes to their positions in the business. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Business Partners by 29.9% during the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after purchasing an additional 26,947 shares during the period. Toronto Dominion Bank boosted its stake in shares of Brookfield Business Partners by 12,276.3% during the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after buying an additional 258,662 shares during the period. National Bank of Canada FI grew its holdings in shares of Brookfield Business Partners by 20.6% during the 3rd quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock valued at $2,274,000 after acquiring an additional 16,684 shares in the last quarter. Brookfield Corp ON increased its stake in shares of Brookfield Business Partners by 1.7% in the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after acquiring an additional 428,511 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Brookfield Business Partners by 13.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after acquiring an additional 92,413 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.