Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume – Here’s Why

Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-high trading volume on Tuesday . Approximately 14,482 shares were traded during mid-day trading, a decline of 0% from the previous session’s volume of 14,532 shares.The stock last traded at $22.09 and had previously closed at $21.97.

Analyst Ratings Changes

Separately, BMO Capital Markets lifted their price objective on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $32.00.

Brookfield Business Partners Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $1.62 billion, a PE ratio of 2.69 and a beta of 1.50. The stock’s 50 day moving average price is $23.95 and its two-hundred day moving average price is $22.14.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The company had revenue of $9.23 billion during the quarter. During the same period in the previous year, the business posted $1.33 EPS. On average, equities analysts expect that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.

Brookfield Business Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a $0.063 dividend. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. The ex-dividend date was Friday, November 29th. This represents a $0.25 annualized dividend and a yield of 1.16%. Brookfield Business Partners’s payout ratio is presently 3.09%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds have recently modified their holdings of BBU. Intact Investment Management Inc. acquired a new position in shares of Brookfield Business Partners in the third quarter valued at approximately $45,000. Bank of New York Mellon Corp acquired a new position in Brookfield Business Partners in the 2nd quarter valued at $307,000. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after purchasing an additional 2,169 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after purchasing an additional 608 shares during the last quarter. Finally, AYAL Capital Advisors Ltd grew its position in shares of Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after purchasing an additional 22,200 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

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.