Brookfield Business Partners L.P. (NYSE:BBU) to Issue Quarterly Dividend of $0.06

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Thursday, March 12th. Shareholders of record on Monday, March 23rd will be given a dividend of 0.0625 per share by the business services provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd.

Brookfield Business Partners has decreased its dividend payment by an average of 0.0%annually over the last three years. Brookfield Business Partners has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brookfield Business Partners to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.3%.

Brookfield Business Partners Price Performance

NYSE:BBU traded down $0.29 during trading hours on Friday, reaching $30.39. 5,157 shares of the company were exchanged, compared to its average volume of 30,773. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $37.75. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.27 and a quick ratio of 0.19. The business has a 50 day moving average of $34.96 and a 200 day moving average of $33.41. The company has a market capitalization of $2.66 billion, a P/E ratio of -116.88 and a beta of 1.30.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $3.46 billion. Research analysts forecast that Brookfield Business Partners will post 5.25 EPS for the current year.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors have recently modified their holdings of the company. Alpine Global Management LLC lifted its holdings in shares of Brookfield Business Partners by 151.1% in the 4th quarter. Alpine Global Management LLC now owns 189,305 shares of the business services provider’s stock worth $6,664,000 after purchasing an additional 113,929 shares in the last quarter. Alberta Investment Management Corp boosted its stake in Brookfield Business Partners by 1.9% during the 4th quarter. Alberta Investment Management Corp now owns 122,814 shares of the business services provider’s stock valued at $4,327,000 after purchasing an additional 2,300 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Brookfield Business Partners by 45.3% during the 4th quarter. Mackenzie Financial Corp now owns 11,766 shares of the business services provider’s stock valued at $418,000 after buying an additional 3,666 shares in the last quarter. XTX Topco Ltd purchased a new position in Brookfield Business Partners during the fourth quarter worth about $210,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Brookfield Business Partners by 59,309.7% in the 4th quarter. Toronto Dominion Bank now owns 215,063 shares of the business services provider’s stock worth $7,596,000 after acquiring an additional 214,701 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.