Brookfield Business Partners (NYSE:BBU) Stock Price Down 3.1%

Shares of Brookfield Business Partners L.P. (NYSE:BBU) were down 3.1% on Monday . The stock traded as low as $18.22 and last traded at $18.22. Approximately 199 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 13,796 shares. The stock had previously closed at $18.80.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BBU shares. Royal Bank of Canada reduced their price target on shares of Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating for the company in a research report on Monday, May 6th. Cibc World Mkts raised Brookfield Business Partners to a “strong-buy” rating in a report on Tuesday, May 7th. TheStreet cut Brookfield Business Partners from a “c” rating to a “d+” rating in a research note on Wednesday, March 13th. Finally, BMO Capital Markets increased their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Business Partners presently has a consensus rating of “Buy” and a consensus target price of $30.33.

Brookfield Business Partners Stock Up 2.0 %

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 2.98 and a beta of 1.47. The firm has a 50 day moving average price of $18.83 and a 200-day moving average price of $20.27. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 2.23.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, May 3rd. The business services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.63). Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.64%. The business had revenue of $12.02 billion during the quarter. On average, equities analysts forecast that Brookfield Business Partners L.P. will post 4.16 EPS for the current year.

Brookfield Business Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 31st were paid a dividend of $0.0625 per share. The ex-dividend date was Friday, May 31st. This represents a $0.25 annualized dividend and a dividend yield of 1.29%. Brookfield Business Partners’s dividend payout ratio is currently 3.92%.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently modified their holdings of the company. K2 Principal Fund L.P. acquired a new position in Brookfield Business Partners in the 4th quarter valued at $2,033,000. Partners Value Investments L.P. grew its holdings in Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock valued at $60,527,000 after buying an additional 19,061 shares during the period. TD Asset Management Inc increased its stake in shares of Brookfield Business Partners by 4.1% during the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock valued at $3,328,000 after acquiring an additional 6,290 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its holdings in shares of Brookfield Business Partners by 54.3% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock worth $1,231,000 after acquiring an additional 20,891 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Business Partners in the fourth quarter worth approximately $618,000. Hedge funds and other institutional investors own 85.04% of the company’s stock.

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.