Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase – Still a Buy?

Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-strong trading volume on Friday . Approximately 30,125 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 23,680 shares.The stock last traded at $36.1960 and had previously closed at $34.85.

Analysts Set New Price Targets

Several research analysts recently issued reports on BBU shares. Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada lifted their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Zacks Research raised shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. National Bankshares lifted their price target on Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Brookfield Business Partners Price Performance

The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -20.33 and a beta of 1.31. The business has a fifty day moving average of $34.45 and a two-hundred day moving average of $30.85. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.41 and a current ratio of 1.71.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. Brookfield Business Partners’s dividend payout ratio (DPR) is -13.89%.

Institutional Trading of Brookfield Business Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PCJ Investment Counsel Ltd. grew its position in shares of Brookfield Business Partners by 5.3% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock valued at $43,786,000 after purchasing an additional 67,295 shares during the period. TD Waterhouse Canada Inc. increased its holdings in Brookfield Business Partners by 1.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock valued at $35,513,000 after acquiring an additional 17,508 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Brookfield Business Partners by 74.4% in the third quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock worth $22,849,000 after acquiring an additional 297,180 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Brookfield Business Partners by 14.4% during the third quarter. Bank of Montreal Can now owns 553,148 shares of the business services provider’s stock worth $18,140,000 after purchasing an additional 69,657 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Brookfield Business Partners by 796.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock valued at $10,530,000 after purchasing an additional 286,872 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

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.