JPMorgan Chase & Co. Buys 286,872 Shares of Brookfield Business Partners L.P. $BBU

Key Points

• JPMorgan Chase & Co. boosted its stake in Brookfield Business Partners by 796.3% in Q3, buying 286,872 shares to hold 322,899 shares (about 0.36% of the company) worth $10.53 million.
• Brookfield posted ($0.48) EPS for the quarter—missing the $1.38 estimate—while reporting $7.0 billion in revenue; the company has a $3.0 billion market cap and a high debt-to-equity ratio of 2.84.
• Sell-side coverage is mixed but skewed positive: the consensus is a "Moderate Buy" with a $43.00 price target, though a few outlets have maintained sell ratings.

JPMorgan Chase & Co. raised its position in shares of Brookfield Business Partners L.P. (NYSE:BBU - Free Report) by 796.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 322,899 shares of the business services provider's stock after buying an additional 286,872 shares during the quarter. JPMorgan Chase & Co. owned about 0.36% of Brookfield Business Partners worth $10,530,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BBU. Legal & General Group Plc bought a new position in Brookfield Business Partners during the second quarter valued at $3,373,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at about $391,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock valued at $28,344,000 after acquiring an additional 14,981 shares during the last quarter. Rathbones Group PLC purchased a new position in Brookfield Business Partners in the second quarter worth about $265,000. Finally, Bank of America Corp DE grew its position in Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock worth $31,000 after acquiring an additional 1,204 shares in the last quarter. Institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Price Performance

BBU opened at $34.25 on Friday. The business has a fifty day moving average of $35.30 and a 200 day moving average of $33.23. The stock has a market cap of $3.00 billion, a P/E ratio of -131.71 and a beta of 1.30. The company has a quick ratio of 0.19, a current ratio of 0.27 and a debt-to-equity ratio of 2.84. Brookfield Business Partners L.P. has a 52-week low of $18.63 and a 52-week high of $37.75.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last released its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of $1.38 by ($1.86). The business had revenue of $7 billion during the quarter, compared to analysts' expectations of $3.46 billion. Brookfield Business Partners had a return on equity of 2.67% and a net margin of 1.41%. As a group, sell-side analysts anticipate that Brookfield Business Partners L.P. will post 5.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Desjardins upped their price objective on Brookfield Business Partners from $41.00 to $43.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Royal Bank Of Canada increased their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the company an "outperform" rating in a report on Monday, February 2nd. Canadian Imperial Bank of Commerce initiated coverage on shares of Brookfield Business Partners in a research note on Friday, February 27th. They set a "sector outperform" rating and a $44.00 price objective for the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Brookfield Business Partners in a research note on Wednesday, January 21st. Finally, Zacks Research lowered shares of Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a report on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Brookfield Business Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Brookfield Business Partners Profile

Brookfield Business Partners L.P. NYSE: BBU is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management's global scale and operational expertise.

The company's investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.

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