Brookfield Business Partners (NYSE:BBU) Trading Up 4.1% – What’s Next?

Brookfield Business Partners L.P. (NYSE:BBU)’s share price traded up 4.1% during mid-day trading on Tuesday . The stock traded as high as $23.47 and last traded at $23.53. 12,809 shares traded 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.

Analyst Ratings Changes

BBU has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. BMO Capital Markets upped their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd.

Brookfield Business Partners Price Performance

The company has a quick ratio of 0.39, a current ratio of 0.50 and a debt-to-equity ratio of 2.12. The firm’s fifty day moving average price is $23.03 and its 200 day moving average price is $23.15. The stock has a market cap of $2.11 billion, a PE ratio of -47.41 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 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%. As a group, equities analysts expect that Brookfield Business Partners L.P. will post 5.25 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.08%. Brookfield Business Partners’s payout ratio is currently -51.02%.

Institutional Trading of Brookfield Business Partners

Large investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in Brookfield Business Partners by 29.9% during the 3rd quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after buying an additional 26,947 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Brookfield Business Partners by 14.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after acquiring an additional 188,743 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in shares of Brookfield Business Partners by 14.7% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock valued at $15,047,000 after purchasing an additional 82,372 shares during the period. Bank of Montreal Can grew its stake in Brookfield Business Partners by 8.7% in the third quarter. Bank of Montreal Can now owns 834,512 shares of the business services provider’s stock worth $20,193,000 after purchasing an additional 66,786 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings 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 worth $18,145,000 after purchasing an additional 92,413 shares during the period. 85.04% of the stock is 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.