Brookfield Business Partners L.P. (NYSE:BBU) Receives $31.40 Average PT from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has earned an average rating of “Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.40.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Brookfield Business Partners in a report on Monday, August 5th.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Partners Value Investments L.P. raised its holdings in shares of Brookfield Business Partners by 0.7% during the fourth quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock worth $60,527,000 after acquiring an additional 19,061 shares during the period. Bank of Montreal Can raised its holdings in shares of Brookfield Business Partners by 3.1% during the second quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after acquiring an additional 22,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Brookfield Business Partners by 12.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock worth $12,910,000 after acquiring an additional 77,017 shares during the period. TD Asset Management Inc raised its holdings in shares of Brookfield Business Partners by 4.1% during the fourth quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock worth $3,328,000 after acquiring an additional 6,290 shares during the period. Finally, K2 Principal Fund L.P. raised its holdings in shares of Brookfield Business Partners by 58.3% during the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after acquiring an additional 57,553 shares during the period. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Price Performance

Shares of BBU stock opened at $20.10 on Thursday. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $23.75. The stock has a market cap of $1.49 billion, a PE ratio of 3.15 and a beta of 1.45. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. The firm’s 50 day moving average price is $19.95 and its two-hundred day moving average price is $19.86.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.95). The firm had revenue of $11.95 billion during the quarter. Brookfield Business Partners had a return on equity of 21.76% and a net margin of 7.34%. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, analysts forecast that Brookfield Business Partners will post 4.52 EPS for the current year.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.24%. Brookfield Business Partners’s payout ratio is 3.92%.

About Brookfield Business Partners

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.