Brookfield Business Partners LP (NYSE:BBU) Brief Interest Update

Brookfield Business Partners LP (NYSE:BBU – Get Rating) was the target of a significant drop in short interest in October. As of October 31, there was short interest totaling 18,600 shares, down 25.0% from the October 15 total of 24,800 shares. Based on an average daily trading volume of 13,700 shares, the days-to-cover ratio is currently 1.4 days. Currently 0.0% of shares of the stock are shorted.

Brookfield Business Partners stock performance

NYSE: BBU rose $1.58 on Friday to hit $22.89. The stock had a trading volume of 105,353 shares compared to an average volume of 21,726. Brookfield Business Partners has a 52-week low of $18.48 and a 52-week high of $51.98. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 52.01 and a beta of 1.36. The company has a quick ratio of 0.80, a current ratio of 1.10 and a debt to equity ratio of 0.14. The company’s 50-day simple moving average is $20.89 and its 200-day simple moving average is $21.90.

Brookfield Business Partners (NYSE:BBU – Get Rating) last released its quarterly earnings data on Monday, November 7th. The business services provider reported earnings per share (EPS) of $0.14 for the quarter, missing analyst consensus estimates of $1.36 ($1.50). Brookfield Business Partners had a return on equity of 2.77% and a net margin of 0.68%. The company had revenue of $14.74 billion for the quarter. As a group, research analysts forecast Brookfield Business Partners to report year-to-date earnings per share of 5.97.

Brookfield Business Partners increases dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30 will receive a dividend of $0.063 per share. This is a positive change from Brookfield Business Partners’ prior quarterly dividend of $0.06. That equates to a dividend of $0.25 on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday November 29th. Brookfield Business Partners’ dividend payout ratio (DPR) is 56.82%.

Analysts set new price targets

Several research firms have commented on BBU. The Royal Bank of Canada has raised its target price on Brookfield Business Partners shares to $34.00 from $31.00 and rated the stock as “outperform” in a research note on Monday, August 8th. National Bankshares lowered its target price on shares of Brookfield Business Partners from $36.00 to $28.00 and gave the company a “Outperform” rating in a research report on Tuesday, November 8th.

Hedge funds rely on Brookfield business partners

Hedge funds and other institutional investors have recently changed their stock holdings. Russell Investments Group Ltd. increased its stake in Brookfield Business Partners by 650.1% in the first quarter. Russell Investments Group Ltd. now owns 33,756 shares of the corporate services provider, valued at $1,031,000, after purchasing an additional 29,256 shares last quarter. National Bank of Canada FI increased its stake in Brookfield Business Partners by 52.9% in the first quarter. The National Bank of Canada FI now owns 65,279 shares of the corporate services provider, valued at $1,988,000, after purchasing an additional 22,588 shares last quarter. CIBC Asset Management Inc increased its stake in Brookfield Business Partners by 8.1% in the first quarter. CIBC Asset Management Inc now owns 2,871,820 shares of the business services provider worth $87,782,000 after purchasing an additional 215,739 shares last quarter. Montrusco Bolton Investments Inc. increased its position in Brookfield Business Partners by 6.4% in the first quarter. Montrusco Bolton Investments Inc. now owns 98,644 shares of the corporate services provider, valued at $3,014,000, after purchasing an additional 5,960 shares last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its stake in Brookfield Business Partners by 39.7% during the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 154,930 shares of the corporate services provider, valued at $4,811,000, having purchased a further 44,000 shares during the period. Institutional investors own 75.10% of the company’s shares.

Company profile of Brookfield Business Partners

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Brookfield Business Partners LP is a private equity firm specializing in acquisitions. The company typically invests in the business services, construction, energy and industrials sectors. It prefers controlling stakes in companies. The company aims for a return of at least 15% on its investments. Brookfield Business Partners LP

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