Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Update

Brookfield Business Partners L.P. (NYSE:BBU) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 51,900 shares, a growth of 11.4% from the September 15th total of 46,600 shares. Based on an average daily volume of 14,400 shares, the short-interest ratio is presently 3.6 days. Currently, 0.1% of the shares of the company are short sold.

Brookfield Business Partners Price Performance

Shares of NYSE:BBU traded down $0.45 during trading on Thursday, reaching $23.90. 10,260 shares of the company’s stock traded hands, compared to its average volume of 14,081. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24. Brookfield Business Partners has a fifty-two week low of $12.22 and a fifty-two week high of $24.96. The company has a 50-day simple moving average of $21.53 and a 200-day simple moving average of $20.11. The firm has a market cap of $1.78 billion, a PE ratio of 3.82 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. The company had revenue of $11.95 billion for the quarter. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, analysts predict that Brookfield Business Partners will post 4.52 earnings per share for the current year.

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.25 annualized dividend and a yield of 1.05%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 price target on shares of Brookfield Business Partners in a research report on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.40.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds have recently modified their holdings of BBU. Bank of New York Mellon Corp purchased a new position in Brookfield Business Partners during the second quarter worth approximately $307,000. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after acquiring an additional 608 shares during the period. AYAL Capital Advisors Ltd boosted its position in shares of Brookfield Business Partners by 97.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Brookfield Business Partners by 35.7% in the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 23,258 shares during the period. Finally, K2 Principal Fund L.P. increased its position in Brookfield Business Partners by 58.3% during the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after purchasing an additional 57,553 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Company Profile

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.