Brookfield Business Partners (NYSE:BBU) Stock Price Up 4.1% – Should You Buy?

Shares of Brookfield Business Partners L.P. (NYSE:BBU) traded up 4.1% during trading on Tuesday . The stock traded as high as $23.47 and last traded at $23.53. 12,809 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 14,976 shares. The stock had previously closed at $22.60.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Brookfield Business Partners in a report on Monday, February 3rd. BMO Capital Markets upped their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Royal Bank of Canada lowered their price target on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd.

Brookfield Business Partners Price Performance

The stock’s fifty day moving average is $23.07 and its 200-day moving average is $23.18. The stock has a market capitalization of $2.13 billion, a PE ratio of -47.95 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.09%. As a group, equities analysts predict that Brookfield Business Partners L.P. will post 5.25 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio is presently -51.02%.

Hedge Funds Weigh In On Brookfield Business Partners

A number of large investors have recently added to or reduced their stakes in BBU. Brookfield Corp ON raised its position in Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock worth $596,538,000 after acquiring an additional 428,511 shares during the period. Toronto Dominion Bank raised its position in shares of Brookfield Business Partners by 12,276.3% in the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after buying an additional 258,662 shares during the last quarter. AGF Management Ltd. acquired a new stake in shares of Brookfield Business Partners in the fourth quarter valued at about $5,111,000. PCJ Investment Counsel Ltd. raised its position in shares of Brookfield Business Partners by 14.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after buying an additional 188,743 shares during the last quarter. Finally, Forge First Asset Management Inc. raised its position in shares of Brookfield Business Partners by 48.3% in the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock valued at $12,538,000 after buying an additional 173,500 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

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.