Brookfield Business Partners (NYSE:BBU) Sees Large Volume Increase - What's Next?

Key Points

• Brookfield Business Partners experienced a significant trading volume increase of 417% on Wednesday, with approximately 152,919 shares changing hands.
• Analysts have uplifted price targets for Brookfield Business Partners; Royal Bank of Canada and National Bankshares both raised their targets to $39.00, maintaining an "outperform" rating.
• The company has declared a $0.0625 quarterly dividend, representing a 0.7% dividend yield and a payout ratio of -192.31%.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 152,919 shares changed hands during mid-day trading, an increase of 417% from the previous session's volume of 29,595 shares.The stock last traded at $36.08 and had previously closed at $35.80.

Wall Street Analysts Forecast Growth

BBU has been the topic of several recent analyst reports. 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. National Bankshares boosted their target price on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the company an "outperform" rating in a report on Friday, September 26th. Desjardins boosted their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Weiss Ratings restated a "sell (d+)" rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $35.83.

Brookfield Business Partners Trading Up 0.3%

The stock has a 50 day moving average of $28.73 and a 200-day moving average of $25.65. The company has a market capitalization of $3.19 billion, a P/E ratio of -276.34 and a beta of 1.38. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield Business Partners's dividend payout ratio is presently -192.31%.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON raised its position in Brookfield Business Partners by 72.5% during the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock valued at $1,035,806,000 after acquiring an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Brookfield Business Partners by 1.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock worth $28,344,000 after acquiring an additional 14,981 shares during the last quarter. AGF Management Ltd. boosted its stake in shares of Brookfield Business Partners by 58.2% in the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock worth $8,030,000 after acquiring an additional 126,189 shares during the last quarter. Triasima Portfolio Management inc. acquired a new position in Brookfield Business Partners during the first quarter worth $3,997,000. Finally, TD Asset Management Inc boosted its stake in Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock worth $3,625,000 after buying an additional 4,032 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

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.

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