Brokerages Set Brookfield Business Partners L.P. (NYSE:BBU) Target Price at $32.50

Key Points

• Brookfield Business Partners L.P. has received a consensus rating of "Buy" from five analysts, with an average twelve-month target price set at $32.50.
• Institutional investors own 85.04% of the company's stock, with notable increases in holdings from BROOKFIELD Corp ON and Royal Bank of Canada.
• The company recently announced a quarterly dividend of $0.0625 per share, reflecting an annualized yield of 0.9%.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) have been assigned an average rating of "Buy" from the five research firms that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $32.50.

Several research firms recently issued reports on BBU. CIBC reduced their target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a report on Monday, April 28th. Desjardins increased their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada increased their target price on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Wall Street Zen lowered shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, National Bankshares cut their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th.

Brookfield Business Partners Stock Performance

Shares of NYSE BBU traded up $0.7160 during midday trading on Wednesday, hitting $27.7760. 114,676 shares of the company's stock traded hands, compared to its average volume of 26,970. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $28.23. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -213.66 and a beta of 1.38. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67. The firm has a fifty day moving average of $25.61 and a 200 day moving average of $24.14.

Brookfield Business Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.0625 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. Brookfield Business Partners's dividend payout ratio (DPR) is -192.31%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in shares of Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,204 shares in the last quarter. Rathbones Group PLC purchased a new position in Brookfield Business Partners during the second quarter worth $265,000. Northwest & Ethical Investments L.P. purchased a new position in Brookfield Business Partners during the second quarter worth $391,000. Bank of New York Mellon Corp boosted its stake in Brookfield Business Partners by 11.7% during the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock worth $465,000 after buying an additional 2,078 shares during the period. Finally, Gold Investment Management Ltd. boosted its stake in Brookfield Business Partners by 20.9% during the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock worth $921,000 after buying an additional 6,791 shares during the period. 85.04% of the stock is owned by hedge funds and other institutional investors.

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.