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

Key Points

• Brookfield Business Partners experienced a significant trading volume increase of 63%, with approximately 47,647 shares traded on Friday, bringing the stock price to $27.55.
• Analysts have mixed ratings for the stock, with five investment analysts rating it as a "Buy" and a consensus price target of $32.50, although some firms have cut their price objectives.
• The company announced a quarterly dividend of $0.0625 per share, to be paid on September 29th, resulting in an annualized yield of 0.9%.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-high trading volume on Friday . Approximately 47,647 shares were traded during trading, an increase of 63% from the previous session's volume of 29,274 shares.The stock last traded at $27.55 and had previously closed at $27.15.

Wall Street Analysts Forecast Growth

BBU has been the topic of a number of analyst reports. Scotiabank cut their price objective on shares of Brookfield Business Partners from $31.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Desjardins boosted their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $32.50.

Brookfield Business Partners Stock Performance

The firm has a market capitalization of $2.43 billion, a PE ratio of -210.23 and a beta of 1.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. The company's fifty day simple moving average is $26.08 and its 200 day simple moving average is $24.43.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.25 annualized dividend and a yield of 0.9%. Brookfield Business Partners's dividend payout ratio is -192.31%.

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON lifted its holdings 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 purchasing an additional 18,549,503 shares during the last quarter. Royal Bank of Canada lifted its holdings in Brookfield Business Partners by 0.8% during the fourth quarter. Royal Bank of Canada now owns 7,718,131 shares of the business services provider's stock valued at $180,759,000 after purchasing an additional 64,007 shares during the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock valued at $28,344,000 after purchasing an additional 14,981 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield Business Partners by 2.3% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 791,887 shares of the business services provider's stock valued at $18,651,000 after purchasing an additional 17,912 shares during the last quarter. Finally, AGF Management Ltd. lifted its holdings in Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after purchasing an additional 126,189 shares during the last quarter. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.

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