Brookfield Business Partners (NYSE:BBU) Shares Gap Up to $19.55

Shares of Brookfield Business Partners L.P. (NYSE:BBU) gapped up prior to trading on Friday . The stock had previously closed at $19.55, but opened at $20.02. Brookfield Business Partners shares last traded at $20.02, with a volume of 42 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $31.40.

Brookfield Business Partners Trading Down 1.6 %

The stock has a market capitalization of $1.43 billion, a P/E ratio of 3.05 and a beta of 1.47. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. The business has a 50-day moving average price of $19.87 and a two-hundred day moving average price of $19.96.

Brookfield Business Partners (NYSE:BBU) last issued its earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.86 by ($0.95). The firm had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. During the same period in the previous year, the firm earned $0.85 EPS. On average, analysts expect that Brookfield Business Partners L.P. will post 4.52 EPS for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Business Partners’s dividend payout ratio is presently 3.92%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. K2 Principal Fund L.P. acquired a new position in Brookfield Business Partners during the 4th quarter worth about $2,033,000. Partners Value Investments L.P. increased its position in shares of Brookfield Business Partners by 0.7% during the fourth quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after acquiring an additional 19,061 shares in the last quarter. TD Asset Management Inc increased its holdings in Brookfield Business Partners by 4.1% during the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock worth $3,328,000 after purchasing an additional 6,290 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in shares of Brookfield Business Partners by 54.3% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock valued at $1,231,000 after buying an additional 20,891 shares during the last quarter. Finally, Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners during the fourth quarter worth $618,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.