Brookfield Business Partners L.P. (NYSE:BBU) Announces Quarterly Dividend of $0.06

Key Points

• Brookfield Business Partners L.P. announced a quarterly dividend of $0.06 per share, payable on September 29th to investors of record as of August 29th, indicating a yield of 1.1%.
• The company's earnings per share for the last quarter was reported at $1.12, which missed analyst estimates by $0.14, while analysts forecast a future earnings per share of $5.84 for the next year.
• Institutional investors and hedge funds hold 85.04% of Brookfield's shares, with notable increases in stakes from firms like Bank of New York Mellon Corp and Russell Investments Group Ltd. in recent quarters.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.0625 per share by the business services provider on Monday, September 29th. This represents a c) annualized dividend and a yield of 1.1%.

Brookfield Business Partners has a payout ratio of 12.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Brookfield Business Partners to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.3%.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU opened at $23.43 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.21 and a current ratio of 1.48. The stock has a fifty day moving average price of $25.46 and a two-hundred day moving average price of $23.71. Brookfield Business Partners has a 1 year low of $18.45 and a 1 year high of $27.47. The firm has a market cap of $2.08 billion, a P/E ratio of -68.91 and a beta of 1.32.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The business services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.14). Brookfield Business Partners had a return on equity of 5.68% and a net margin of 2.68%. Research analysts forecast that Brookfield Business Partners will post 5.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBU. Bank of New York Mellon Corp lifted its stake in Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after purchasing an additional 2,078 shares during the last quarter. Gold Investment Management Ltd. increased its holdings in shares of Brookfield Business Partners by 20.9% during the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock worth $921,000 after purchasing an additional 6,791 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield Business Partners by 2.8% during the fourth 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 during the period. K2 Principal Fund L.P. increased its holdings in shares of Brookfield Business Partners by 5.8% during the fourth quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock worth $1,227,000 after purchasing an additional 2,880 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Brookfield Business Partners by 64.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock valued at $1,485,000 after acquiring an additional 24,755 shares during the last quarter. 85.04% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.