Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume – What’s Next?

Brookfield Business Partners L.P. (NYSE:BBU) shares saw unusually-high trading volume on Tuesday . Approximately 16,743 shares were traded during trading, a decline of 13% from the previous session’s volume of 19,233 shares.The stock last traded at $23.27 and had previously closed at $22.69.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BBU. BMO Capital Markets raised their price target on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Scotiabank lifted their price target on Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Business Partners has an average rating of “Buy” and a consensus price target of $32.33.

Brookfield Business Partners Stock Performance

The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 0.50. The firm has a 50 day moving average price of $22.82 and a two-hundred day moving average price of $22.46. The company has a market capitalization of $1.77 billion, a P/E ratio of -48.77 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 EPS for the quarter, topping 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%. On average, research analysts expect that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

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 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 dividend yield of 1.05%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -51.02%.

Hedge Funds Weigh In On Brookfield Business Partners

Several hedge funds have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew 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 acquiring an additional 92,413 shares during the period. Principal Financial Group Inc. raised its position 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. Caldwell Investment Management Ltd. bought a new position in Brookfield Business Partners in the fourth quarter valued at approximately $1,731,000. PCJ Investment Counsel Ltd. boosted its holdings in shares of Brookfield Business Partners by 14.2% in 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 buying an additional 188,743 shares during the period. Finally, Toronto Dominion Bank increased its holdings in 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 worth $6,076,000 after purchasing an additional 258,662 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

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.