Brookfield Business Partners (NYSE:BBU) Given New $34.00 Price Target at BMO Capital Markets

Brookfield Business Partners (NYSE:BBU) had its price objective lifted by BMO Capital Markets from $32.00 to $34.00 in a research note released on Friday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Brookfield Business Partners Price Performance

Shares of BBU stock opened at $22.10 on Friday. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. The firm’s 50 day moving average is $24.03 and its 200-day moving average is $22.03. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 2.73 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. The firm had revenue of $9.23 billion for the quarter. During the same quarter in the previous year, the business posted $1.33 earnings per share. Sell-side analysts forecast that Brookfield Business Partners will post 5.43 EPS for the current fiscal year.

Brookfield Business Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were issued a dividend of $0.063 per share. The ex-dividend date was Friday, November 29th. This represents a $0.25 dividend on an annualized basis and a yield of 1.14%. This is a boost from Brookfield Business Partners’s previous quarterly dividend of $0.06. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.09%.

Institutional Investors Weigh In On Brookfield Business Partners

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Brookfield Business Partners by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after buying an additional 608 shares in the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Business Partners by 2.0% in the 2nd quarter. Principal Financial Group Inc. now owns 90,242 shares of the business services provider’s stock valued at $1,701,000 after acquiring an additional 1,808 shares in the last quarter. Intact Investment Management Inc. acquired a new position in Brookfield Business Partners in the 3rd quarter worth $45,000. Gold Investment Management Ltd. increased its holdings in Brookfield Business Partners by 7.4% during 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 in the last quarter. Finally, Tandem Capital Management Corp ADV raised its stake in shares of Brookfield Business Partners by 24.5% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after purchasing an additional 7,939 shares during the period. 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.