Short Interest in Brookfield Business Partners L.P. (NYSE:BBU) Decreases By 14.2%

Brookfield Business Partners L.P. (NYSE:BBU) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 15,700 shares, a drop of 14.2% from the February 28th total of 18,300 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 17,100 shares, the short-interest ratio is presently 0.9 days.

Brookfield Business Partners Stock Down 0.1 %

Brookfield Business Partners stock traded down $0.03 during mid-day trading on Wednesday, reaching $23.98. The company’s stock had a trading volume of 528 shares, compared to its average volume of 16,725. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -48.94 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The business’s 50 day simple moving average is $23.43 and its 200 day simple moving average is $23.44.

Brookfield Business Partners (NYSE:BBU) last issued 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 return on equity of 5.09% and a net margin of 2.20%. As a group, research analysts anticipate that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, February 28th were issued a $0.0625 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.25 annualized dividend and a yield of 1.04%. Brookfield Business Partners’s payout ratio is currently -51.02%.

Institutional Trading of Brookfield Business Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Intact Investment Management Inc. lifted its stake in Brookfield Business Partners by 52.6% during the fourth quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock worth $68,000 after purchasing an additional 1,000 shares during the last quarter. BBR Partners LLC bought a new stake in shares of Brookfield Business Partners during the 4th quarter valued at about $241,000. Bank of New York Mellon Corp raised its position in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after acquiring an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. grew its position in shares of Brookfield Business Partners by 3.2% in the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock worth $767,000 after buying an additional 1,017 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Brookfield Business Partners by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock worth $987,000 after purchasing an additional 1,146 shares in the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BBU shares. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd.

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.