Brookfield Business Partners (NYSE:BBU) Shares Gap Down to $19.89

Brookfield Business Partners L.P. (NYSE:BBU – Get Rating) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.89, but opened at $19.40. Brookfield Business Partners shares last traded at $19.73, with a volume of 15,109 shares trading hands.

Analyst Ratings Changes

Several analysts have commented on BBU shares. Credit Suisse Group initiated coverage on shares of Brookfield Business Partners in a report on Thursday, March 9th. They issued an “outperform” rating and a $26.00 price objective for the company. National Bankshares dropped their price target on Brookfield Business Partners from $36.00 to $35.00 in a research report on Tuesday, May 2nd.

Brookfield Business Partners Stock Down 0.9 %

The company has a debt-to-equity ratio of 2.53, a current ratio of 1.17 and a quick ratio of 0.85. The stock’s 50 day simple moving average is $17.72 and its two-hundred day simple moving average is $18.39. The firm has a market cap of $1.43 billion, a P/E ratio of 21.47 and a beta of 1.35.

Brookfield Business Partners (NYSE:BBU – Get Rating) last posted its quarterly earnings data on Friday, May 5th. The business services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.93). Brookfield Business Partners had a net margin of 0.93% and a return on equity of 3.39%. The company had revenue of $13.76 billion for the quarter. As a group, research analysts forecast that Brookfield Business Partners L.P. will post 4.53 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend is Tuesday, May 30th. Brookfield Business Partners’s payout ratio is 28.09%.

Institutional Trading of Brookfield Business Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Brookfield Corp ON lifted its stake in shares of Brookfield Business Partners by 3.8% in the first quarter. Brookfield Corp ON now owns 27,286,419 shares of the business services provider’s stock worth $508,073,000 after buying an additional 1,006,704 shares in the last quarter. Royal Bank of Canada boosted its stake in Brookfield Business Partners by 7.9% during the 3rd quarter. Royal Bank of Canada now owns 7,741,784 shares of the business services provider’s stock valued at $150,653,000 after purchasing an additional 563,739 shares during the last quarter. Forge First Asset Management Inc. bought a new stake in shares of Brookfield Business Partners in the 4th quarter worth $7,518,000. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Business Partners by 85.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 608,233 shares of the business services provider’s stock worth $10,276,000 after purchasing an additional 280,085 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Brookfield Business Partners by 17.9% during the fourth quarter. 1832 Asset Management L.P. now owns 1,576,618 shares of the business services provider’s stock valued at $26,739,000 after purchasing an additional 238,803 shares in the last quarter. 75.80% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

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Brookfield Business Partners LP engages in owning and operating business services and industrial operations. It operates though the following segments: Business Services, Infrastructure Services, Industrials, and Corporate and Other. The Business Services segment includes services such as residential mortgage insurance, healthcare, road fuel distribution and marketing, real estate and construction, entertainment, financing, and other businesses.