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

Brookfield Business Partners L.P. (NYSE:BBU) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 15,700 shares, a drop of 14.2% from the February 28th total of 18,300 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 17,100 shares, the short-interest ratio is currently 0.9 days.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU traded down $0.95 during trading on Thursday, hitting $23.31. The company had a trading volume of 6,655 shares, compared to its average volume of 14,663. The stock has a 50 day simple moving average of $23.48 and a 200 day simple moving average of $23.45. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.39 and a current ratio of 0.50. The firm has a market capitalization of $2.12 billion, a P/E ratio of -47.57 and a beta of 1.50. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. As a group, analysts anticipate that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, February 28th were given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Friday, February 28th. Brookfield Business Partners’s payout ratio is currently -51.02%.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brookfield Corp ON grew its position in shares of Brookfield Business Partners by 1.7% during the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after purchasing an additional 428,511 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Brookfield Business Partners by 12,276.3% during the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after acquiring an additional 258,662 shares during the last quarter. AGF Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter worth $5,111,000. Forge First Asset Management Inc. lifted its position in Brookfield Business Partners by 48.3% during the fourth quarter. Forge First Asset Management Inc. now owns 532,964 shares of the business services provider’s stock valued at $12,538,000 after purchasing an additional 173,500 shares during the last quarter. Finally, NewGen Asset Management Ltd purchased a new position in shares of Brookfield Business Partners in the 4th quarter worth $2,356,000. Institutional investors own 85.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Scotiabank reiterated an “outperform” rating on shares of Brookfield Business Partners in a research note on Monday, February 3rd. Finally, BMO Capital Markets upped their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th.

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.