Brookfield Business Partners L.P. (NYSE:BBU) Given Average Rating of "Buy" by Brokerages

Key Points

• Brookfield Business Partners L.P. (NYSE:BBU) has received an average consensus rating of "Buy" from analysts, with a one-year target price set at $32.50.
• Institutional investors hold a significant majority of the company, with 85.04% of shares owned by hedge funds and other institutions.
• The company announced a quarterly dividend of $0.0625 per share, reflecting an annualized yield of 0.9%, despite a negative payout ratio.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) have earned a consensus recommendation 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 1 year target price among brokers that have issued a report on the stock in the last year is $32.50.

BBU has been the subject of several recent research reports. Wall Street Zen lowered shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Royal Bank Of Canada lifted their price target on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Desjardins lifted their price target on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Scotiabank decreased their price target on shares of Brookfield Business Partners from $31.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th.

Institutional Trading of Brookfield Business Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock valued at $31,000 after acquiring an additional 1,204 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after acquiring an additional 2,078 shares during the period. Gold Investment Management Ltd. increased its holdings in shares of Brookfield Business Partners by 6.8% in the 2nd quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider's stock valued at $1,092,000 after acquiring an additional 2,685 shares during the period. TD Asset Management Inc increased its holdings in shares of Brookfield Business Partners by 2.7% in the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after acquiring an additional 4,032 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its position in Brookfield Business Partners by 6.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider's stock valued at $2,439,000 after buying an additional 6,090 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company's stock.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock opened at $27.00 on Friday. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -207.69 and a beta of 1.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. The business has a 50-day moving average of $26.07 and a 200 day moving average of $24.44. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $28.28.

Brookfield Business Partners Announces Dividend

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

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.

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