Brookfield Business Partners (NYSE:BBU) Sees Unusually-High Trading Volume Following Analyst Upgrade

Key Points

• Brookfield Business Partners experienced an 82% increase in trading volume after Scotiabank upgraded its price target from $36 to $39, reflecting positive market sentiment.
• Institutional investors own 85.04% of Brookfield Business Partners' shares, highlighting strong backing from large investors.
• The company declared a quarterly dividend of $0.0625 per share, scheduled for payment on September 29, representing an annualized yield of 0.8%.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) saw unusually-strong trading volume on Friday after Scotiabank raised their price target on the stock from $36.00 to $39.00. Scotiabank currently has a sector outperform rating on the stock. Approximately 41,271 shares changed hands during mid-day trading, an increase of 82% from the previous session's volume of 22,699 shares.The stock last traded at $32.32 and had previously closed at $31.75.

A number of other brokerages have also recently issued reports on BBU. Desjardins raised their target price on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Royal Bank Of Canada raised their target price on Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $34.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BROOKFIELD Corp ON raised its position in shares of Brookfield Business Partners by 72.5% during the 1st 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 during the last quarter. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield Business Partners in the 1st quarter valued at $3,997,000. Bank of New York Mellon Corp increased its position in shares of 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 buying an additional 2,078 shares in the last quarter. TD Asset Management Inc increased its position in shares of Brookfield Business Partners by 2.7% in the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after buying an additional 4,032 shares in the last quarter. Finally, AGF Management Ltd. increased its position in shares of Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after buying an additional 126,189 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

Brookfield Business Partners Stock Performance

The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67. The stock's 50-day moving average is $26.52 and its 200 day moving average is $24.70. The firm has a market cap of $2.87 billion, a P/E ratio of -248.58 and a beta of 1.34.

Brookfield Business Partners Announces Dividend

The company also recently announced 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. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 29th. Brookfield Business Partners's dividend payout ratio is -192.31%.

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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