Brookfield Business Partners L.P. (NYSE:BBU) Sees Large Growth in Short Interest

Brookfield Business Partners L.P. (NYSE:BBU) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 50,800 shares, a growth of 7.4% from the October 15th total of 47,300 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 14,000 shares, the days-to-cover ratio is currently 3.6 days.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU opened at $24.41 on Tuesday. The stock has a market capitalization of $1.81 billion, a PE ratio of 3.01 and a beta of 1.45. Brookfield Business Partners has a 52 week low of $15.00 and a 52 week high of $25.64. The stock has a 50 day moving average price of $22.98 and a 200 day moving average price of $20.66. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17.

Brookfield Business Partners (NYSE:BBU) last released its earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The business had revenue of $9.23 billion during the quarter. During the same period in the prior year, the business posted $1.33 earnings per share. Analysts predict that Brookfield Business Partners will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.063 per share. The ex-dividend date is Friday, November 29th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 1.03%. Brookfield Business Partners’s payout ratio is currently 3.09%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a research report on Monday, August 5th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $31.40.

Institutional Investors Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently modified their holdings of BBU. K2 Principal Fund L.P. increased its position in Brookfield Business Partners by 58.3% during the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after buying an additional 57,553 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Business Partners during the 2nd quarter worth approximately $307,000. Principal Financial Group Inc. increased its holdings in shares of Brookfield Business Partners by 2.0% during the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock worth $1,701,000 after acquiring an additional 1,808 shares during the last quarter. Bank of Montreal Can raised its stake in Brookfield Business Partners by 3.1% in the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after acquiring an additional 22,886 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after purchasing an additional 77,017 shares during the last quarter. 85.04% of the stock is 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.