Brookfield Business Partners (NYSE:BBU) Shares Gap Down – Time to Sell?

Brookfield Business Partners L.P. (NYSE:BBU) shares gapped down before the market opened on Friday . The stock had previously closed at $22.77, but opened at $21.53. Brookfield Business Partners shares last traded at $22.45, with a volume of 1,415 shares.

Brookfield Business Partners Stock Down 1.7 %

The business’s fifty day moving average price is $23.94 and its 200 day moving average price is $21.72. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 2.76 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a net margin of 11.77% and a return on equity of 30.68%. The company had revenue of $9.23 billion for the quarter. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, equities analysts expect that Brookfield Business Partners L.P. will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th will be paid a dividend of $0.063 per share. The ex-dividend date is Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.13%. Brookfield Business Partners’s dividend payout ratio is currently 3.09%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $45,000. Bank of New York Mellon Corp acquired a new stake in shares of Brookfield Business Partners in the 2nd quarter worth $307,000. Gold Investment Management Ltd. lifted its stake in shares of Brookfield Business Partners by 7.4% in the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock worth $739,000 after acquiring an additional 2,169 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares in the last quarter. Finally, AYAL Capital Advisors Ltd raised its holdings in Brookfield Business Partners by 97.4% during the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after purchasing an additional 22,200 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.