Brookfield Business Partners (NYSE:BBU) Sees Strong Trading Volume – Still a Buy?

Brookfield Business Partners L.P. (NYSE:BBU) saw unusually-high trading volume on Friday . Approximately 30,125 shares changed hands during mid-day trading, an increase of 27% from the previous session’s volume of 23,680 shares.The stock last traded at $36.1960 and had previously closed at $34.85.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Royal Bank Of Canada boosted their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Scotiabank set a $39.00 target price on Brookfield Business Partners and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Finally, National Bankshares raised their price target on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Brookfield Business Partners currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Brookfield Business Partners Stock Up 0.7%

The business has a fifty day moving average of $34.45 and a 200 day moving average of $30.85. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84. The company has a market capitalization of $3.21 billion, a PE ratio of -20.33 and a beta of 1.31.

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, November 28th. Brookfield Business Partners’s dividend payout ratio is currently -13.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake 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 valued at $31,000 after acquiring an additional 1,204 shares in the last quarter. Guardian Partners Inc. purchased a new position in shares of Brookfield Business Partners during the 3rd quarter worth $221,000. Rathbones Group PLC acquired a new stake in Brookfield Business Partners during the 2nd quarter worth approximately $265,000. Cumberland Partners Ltd acquired a new stake in Brookfield Business Partners in the third quarter valued at $318,000. Finally, Northwest & Ethical Investments L.P. acquired a new stake in shares of Brookfield Business Partners during the second quarter worth about $391,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Company 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.