Brookfield Business Partners (NYSE:BBU) Sets New 52-Week High – Here’s What Happened

Shares of Brookfield Business Partners L.P. (NYSE:BBU) hit a new 52-week high during trading on Monday . The stock traded as high as $26.07 and last traded at $25.71, with a volume of 15424 shares trading hands. The stock had previously closed at $25.04.

Wall Street Analyst Weigh In

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

Brookfield Business Partners Stock Performance

The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $1.85 billion, a P/E ratio of 3.19 and a beta of 1.45. The company has a 50-day moving average of $23.38 and a 200-day moving average of $20.85.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $9.23 billion during the quarter. During the same quarter in the previous year, the business posted $1.33 EPS. On average, equities analysts anticipate that Brookfield Business Partners L.P. will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a $0.063 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a dividend yield of 1.01%. Brookfield Business Partners’s payout ratio is 3.09%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BBU. Brookfield Corp ON grew its stake in 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 acquiring an additional 428,511 shares in the last quarter. Toronto Dominion Bank raised its position in Brookfield Business Partners by 12,276.3% during the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after purchasing an additional 258,662 shares in the last quarter. PCJ Investment Counsel Ltd. lifted its stake in Brookfield Business Partners by 14.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock worth $35,528,000 after purchasing an additional 188,743 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Brookfield Business Partners by 13.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock worth $18,145,000 after buying an additional 92,413 shares in the last quarter. Finally, Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in shares of Brookfield Business Partners by 14.7% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock valued at $15,047,000 after purchasing an additional 82,372 shares during the last quarter. Institutional investors own 85.04% of the company’s stock.

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.