Brookfield Business Partners (NYSE:BBU) Stock Price Up 3.4% – What’s Next?

Brookfield Business Partners L.P. (NYSE:BBU)’s share price shot up 3.4% during mid-day trading on Tuesday . The company traded as high as $22.81 and last traded at $22.81. 9,082 shares traded hands during trading, a decline of 38% from the average session volume of 14,672 shares. The stock had previously closed at $22.07.

Brookfield Business Partners Price Performance

The firm has a 50 day moving average price of $23.89 and a 200-day moving average price of $21.81. The firm has a market capitalization of $1.72 billion, a P/E ratio of 2.85 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The company had revenue of $9.23 billion for the quarter. During the same period last year, the company earned $1.33 earnings per share. On average, analysts expect that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current year.

Brookfield Business Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be paid a dividend of $0.063 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s payout ratio is currently 3.09%.

Institutional Trading of Brookfield Business Partners

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new position in shares of Brookfield Business Partners during the 2nd quarter worth approximately $307,000. Principal Financial Group Inc. increased its stake in shares of Brookfield Business Partners by 2.0% during the second quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock worth $1,701,000 after purchasing an additional 1,808 shares in the last quarter. Bank of Montreal Can raised its position in shares of Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after purchasing an additional 22,886 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Brookfield Business Partners by 12.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after buying an additional 77,017 shares in the last quarter. Finally, AYAL Capital Advisors Ltd boosted its holdings in Brookfield Business Partners by 97.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after buying an additional 22,200 shares during the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.