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

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.0625 per share by the business services provider on Monday, June 30th. This represents a $0.25 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Friday, May 30th.

Brookfield Business Partners has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Brookfield Business Partners to earn $5.84 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 4.3%.

Brookfield Business Partners Trading Up 3.2 %

BBU stock traded up $0.72 during trading on Friday, hitting $23.03. The company had a trading volume of 21,337 shares, compared to its average volume of 15,341. The stock has a market cap of $2.06 billion, a PE ratio of -47.00 and a beta of 1.28. The business has a 50-day moving average of $22.10 and a 200-day moving average of $23.04. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a one year low of $16.85 and a one year high of $26.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. CIBC reduced their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, April 28th. BMO Capital Markets increased their price target on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. Royal Bank of Canada lowered their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. National Bankshares cut their target price on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Scotiabank dropped their price target on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $31.00.

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.