Brookfield Business Partners L.P. (NYSE:BBU) Short Interest Down 37.7% in February

Brookfield Business Partners L.P. (NYSE:BBU) was the recipient of a large decline in short interest in February. As of February 15th, there was short interest totalling 19,800 shares, a decline of 37.7% from the January 31st total of 31,800 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 18,000 shares, the short-interest ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Brookfield Business Partners in a research report on Monday, February 3rd. Finally, BMO Capital Markets boosted their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $32.33.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU traded up $0.24 during midday trading on Friday, hitting $24.90. 18,514 shares of the company’s stock traded hands, compared to its average volume of 17,482. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -50.81 and a beta of 1.50. 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 fifty day moving average of $23.01 and a 200 day moving average of $22.93.

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

Brookfield Business Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio is -51.02%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBU. Intact Investment Management Inc. purchased a new stake in Brookfield Business Partners in the 3rd quarter worth approximately $45,000. BBR Partners LLC bought a new position in Brookfield Business Partners in the 4th quarter worth approximately $241,000. Bank of New York Mellon Corp boosted its stake in Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock worth $415,000 after purchasing an additional 1,448 shares during the period. Gold Investment Management Ltd. boosted its stake in 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 purchasing an additional 2,169 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Brookfield Business Partners by 2.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock worth $987,000 after purchasing an additional 1,146 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.