Brookfield Business Partners L.P. (NYSE:BBU) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Brookfield Business Partners L.P. has received a consensus recommendation of "Hold" from analysts, with two sell ratings and five buy ratings, and an average 12-month price target of $35.83.
• The company declared a quarterly dividend of $0.0625 per share, resulting in an annualized dividend yield of 0.7%, despite a negative dividend payout ratio of -192.31%.
• Institutional investors hold a significant share of the company, with 85.04% of stock ownership attributed to them, indicating strong interest from large financial entities.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven analysts that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $35.8333.

A number of equities analysts have recently commented on BBU shares. Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $35.00 to $39.00 and gave the stock an "outperform" rating in a report on Monday, September 29th. Wall Street Zen lowered Brookfield Business Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Desjardins raised their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. National Bankshares raised their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. Finally, Zacks Research lowered Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 30th.

Brookfield Business Partners Price Performance

Shares of Brookfield Business Partners stock opened at $34.71 on Thursday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -267.00 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 stock has a 50 day moving average price of $27.91 and a 200-day moving average price of $25.35. Brookfield Business Partners has a one year low of $18.63 and a one year high of $34.94.

Brookfield Business Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Business Partners's dividend payout ratio (DPR) is currently -192.31%.

Institutional Investors Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position 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 worth $31,000 after acquiring an additional 1,204 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Brookfield Business Partners in the 2nd quarter worth $391,000. Legal & General Group Plc bought a new position in shares of Brookfield Business Partners in the 2nd quarter worth $3,373,000. JPMorgan Chase & Co. raised its position in shares of Brookfield Business Partners by 636.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider's stock worth $934,000 after acquiring an additional 31,135 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock worth $28,344,000 after acquiring an additional 14,981 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

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.

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