Brookfield Business Partners (NYSE:BBU) Trading 3% Higher

Shares of Brookfield Business Partners L.P. (NYSE:BBU) rose 3% during mid-day trading on Thursday . The stock traded as high as $20.08 and last traded at $20.08. Approximately 355 shares traded hands during trading, a decline of 98% from the average daily volume of 16,125 shares. The stock had previously closed at $19.50.

Wall Street Analysts Forecast Growth

BBU has been the topic of several research reports. TheStreet lowered shares of Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. Scotiabank lifted their price objective on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a report on Monday, February 5th. Desjardins lifted their price objective on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the company a “buy” rating in a report on Monday, February 5th. BMO Capital Markets lifted their price objective on shares of Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, National Bankshares lifted their price objective on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.67.

Brookfield Business Partners Stock Down 1.5 %

The company’s fifty day simple moving average is $21.73 and its 200-day simple moving average is $18.78. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.04 and a quick ratio of 0.78. The firm has a market capitalization of $1.44 billion, a PE ratio of 2.99 and a beta of 1.41.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $5.67. Brookfield Business Partners had a net margin of 6.86% and a return on equity of 21.74%. The business had revenue of $13.41 billion for the quarter. During the same period in the prior year, the firm posted $1.49 earnings per share. On average, analysts forecast that Brookfield Business Partners L.P. will post 3.95 EPS for the current year.

Brookfield Business Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.0625 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.29%. Brookfield Business Partners’s payout ratio is currently 3.85%.

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently made changes to their positions in BBU. BNP Paribas Arbitrage SNC acquired a new stake in shares of Brookfield Business Partners during the second quarter worth $40,000. UBS Group AG lifted its stake in shares of Brookfield Business Partners by 31.5% during the first quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after buying an additional 1,468 shares during the period. Bank of America Corp DE lifted its stake in shares of Brookfield Business Partners by 365.7% during the first quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock worth $250,000 after buying an additional 6,410 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Brookfield Business Partners during the second quarter worth $323,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $476,000. 85.04% of the stock is currently 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.