Brookfield Business Partners L.P. to Issue Quarterly Dividend of $0.06 (NYSE:BBU)

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Investors of record on Friday, August 30th will be given a dividend of 0.0625 per share by the business services provider on Friday, September 27th. This represents a $0.25 annualized dividend and a dividend yield of 1.20%. The ex-dividend date is Friday, August 30th.

Brookfield Business Partners has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brookfield Business Partners to earn $4.45 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 5.6%.

Brookfield Business Partners Trading Down 0.6 %

BBU stock traded down $0.12 on Wednesday, hitting $20.76. 2,778 shares of the company were exchanged, compared to its average volume of 14,217. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 3.45 and a beta of 1.47. The business’s fifty day moving average is $19.57 and its two-hundred day moving average is $20.05. Brookfield Business Partners has a twelve month low of $12.22 and a twelve month high of $23.75. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.10 and a quick ratio of 0.84.

Brookfield Business Partners (NYSE:BBU) last issued 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). Brookfield Business Partners had a return on equity of 21.64% and a net margin of 7.08%. The firm had revenue of $11.95 billion during the quarter. During the same quarter in the prior year, the business earned $0.85 earnings per share. As a group, research analysts forecast that Brookfield Business Partners will post 4.16 earnings per share for the current year.

Wall Street Analyst Weigh In

BBU has been the subject of a number of research reports. BMO Capital Markets boosted their target price on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Brookfield Business Partners in a research report on Monday, August 5th. Finally, Cibc World Mkts upgraded shares of Brookfield Business Partners to a “strong-buy” rating in a report on Tuesday, May 7th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $30.50.

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.