Brookfield Business Partners (NYSE:BBU) Shares Gap Down – Here’s What Happened

Shares of Brookfield Business Partners L.P. (NYSE:BBU) gapped down before the market opened on Monday . The stock had previously closed at $34.46, but opened at $33.30. Brookfield Business Partners shares last traded at $34.5320, with a volume of 4,765 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Scotiabank set a $39.00 price target on shares of Brookfield Business Partners and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. National Bankshares upped their price objective on Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Zacks Research upgraded Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their price objective on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Brookfield Business Partners Price Performance

The company has a debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41. The company has a market cap of $3.07 billion, a PE ratio of -19.42 and a beta of 1.31. The company has a 50-day moving average price of $34.40 and a two-hundred day moving average price of $30.81.

Brookfield Business Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were given a $0.0625 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.7%. Brookfield Business Partners’s dividend payout ratio (DPR) is -13.89%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in Brookfield Business Partners by 30,100.0% during the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after buying an additional 1,204 shares during the period. Guardian Partners Inc. acquired a new stake in shares of Brookfield Business Partners during the third quarter valued at about $221,000. Cumberland Partners Ltd purchased a new stake in shares of Brookfield Business Partners during the third quarter worth about $318,000. Rathbones Group PLC purchased a new stake in shares of Brookfield Business Partners during the second quarter worth about $265,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in Brookfield Business Partners in the second quarter valued at about $391,000. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Company Profile

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.