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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-high trading volume on Friday . Approximately 59,877 shares were traded during mid-day trading, a decline of 15% from the previous session’s volume of 70,080 shares.The stock last traded at $36.3250 and had previously closed at $35.05.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BBU. National Bankshares raised their target price on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Zacks Research raised Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Brookfield Business Partners presently has an average rating of “Moderate Buy” and an average price target of $36.50.

Brookfield Business Partners Stock Performance

The company has a quick ratio of 1.41, a current ratio of 1.71 and a debt-to-equity ratio of 2.84. The company has a fifty day moving average price of $33.71 and a 200 day moving average price of $28.69. The stock has a market cap of $3.12 billion, a PE ratio of -19.64 and a beta of 1.32.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be given a $0.0625 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.7%. Brookfield Business Partners’s payout ratio is presently -13.89%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its position in shares of Brookfield Business Partners by 30,100.0% during the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,204 shares in the last quarter. Guardian Partners Inc. bought a new position in Brookfield Business Partners in the third quarter worth $221,000. Cumberland Partners Ltd purchased a new position in Brookfield Business Partners during the third quarter valued at $318,000. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $265,000. Finally, Northwest & Ethical Investments L.P. bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $391,000. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.