Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) Price Target at $30.50

Brookfield Business Partners L.P. (NYSE:BBU) has been assigned a consensus recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.50.

Several equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Brookfield Business Partners in a report on Monday, August 5th. BMO Capital Markets increased their price objective on shares of Brookfield Business Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Finally, Cibc World Mkts raised shares of Brookfield Business Partners to a “strong-buy” rating in a research note on Tuesday, May 7th.

Brookfield Business Partners Trading Up 1.2 %

Shares of NYSE BBU opened at $20.15 on Friday. The company has a market cap of $1.50 billion, a PE ratio of 3.16 and a beta of 1.47. The firm’s 50 day moving average price is $19.35 and its 200-day moving average price is $20.20. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $23.75. The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.84 and a current ratio of 1.10.

Brookfield Business Partners (NYSE:BBU) last released its quarterly earnings data 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 company had revenue of $11.95 billion for the quarter. Brookfield Business Partners had a net margin of 7.08% and a return on equity of 21.64%. During the same period last year, the firm earned $0.85 earnings per share. On average, equities research analysts expect that Brookfield Business Partners will post 4.16 EPS for the current fiscal year.

Brookfield Business Partners Dividend Announcement

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

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors have recently bought and sold shares of the business. K2 Principal Fund L.P. bought a new position in Brookfield Business Partners in the 4th quarter valued at $2,033,000. Partners Value Investments L.P. grew its holdings in shares of Brookfield Business Partners by 0.7% in 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 purchasing an additional 19,061 shares during the last quarter. TD Asset Management Inc increased its stake in Brookfield Business Partners by 4.1% in the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock worth $3,328,000 after buying an additional 6,290 shares during the period. Montrusco Bolton Investments Inc. lifted its holdings in Brookfield Business Partners by 54.3% during the 4th quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock valued at $1,231,000 after buying an additional 20,891 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new stake in Brookfield Business Partners in the 4th quarter valued at about $618,000. 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.