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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw an uptick in trading volume on Wednesday . 45,101 shares traded hands during trading, an increase of 150% from the previous session’s volume of 18,071 shares.The stock last traded at $24.49 and had previously closed at $23.87.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Royal Bank of Canada lowered their target price on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Business Partners currently has a consensus rating of “Buy” and an average target price of $32.33.

Brookfield Business Partners Trading Down 4.8 %

The business’s 50 day simple moving average is $23.13 and its 200-day simple moving average is $23.03. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. The stock has a market capitalization of $1.75 billion, a P/E ratio of -48.20 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share 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, analysts forecast that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Brookfield Business Partners Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given 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 1.06%. Brookfield Business Partners’s payout ratio is currently -51.02%.

Institutional Trading of Brookfield Business Partners

Hedge funds have recently modified their holdings of the company. Toronto Dominion Bank grew its holdings in Brookfield Business Partners by 15.5% during the fourth quarter. Toronto Dominion Bank now owns 301,080 shares of the business services provider’s stock valued at $7,091,000 after purchasing an additional 40,311 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Brookfield Business Partners by 2.3% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 791,887 shares of the business services provider’s stock valued at $18,651,000 after buying an additional 17,912 shares during the period. Royal Bank of Canada increased its position in shares of Brookfield Business Partners by 0.8% in the 4th quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider’s stock valued at $180,759,000 after buying an additional 64,007 shares in the last quarter. K2 Principal Fund L.P. increased its position in shares of Brookfield Business Partners by 5.8% in the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider’s stock valued at $1,227,000 after buying an additional 2,880 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Brookfield Business Partners by 2.8% during the 4th 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 during the period. 85.04% of the stock is currently owned by institutional investors and hedge funds.

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.