Brookfield Business Partners (NYSE:BBU) Hits New 1-Year High - Here's Why

Key Points

• Brookfield Business Partners L.P. (NYSE:BBU) reached a new 52-week high of $35.33, closing at $35.24 with a trading volume of 38,118 shares.
• Analyst ratings have been mixed, with Zacks Research downgrading the stock to a "strong sell," while Royal Bank of Canada and Scotiabank set price targets of $39.00, giving it an "outperform" rating.
• The company announced a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.7%, despite having a negative dividend payout ratio of -192.31%.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $35.33 and last traded at $35.24, with a volume of 38118 shares. The stock had previously closed at $32.98.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research lowered Brookfield Business Partners from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 30th. Royal Bank Of Canada boosted their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the company an "outperform" rating in a research note on Monday, September 29th. Weiss Ratings restated a "sell (d+)" rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Finally, National Bankshares boosted their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Five investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $35.83.

Brookfield Business Partners Trading Up 6.9%

The business has a 50-day moving average price of $28.52 and a two-hundred day moving average price of $25.58. The stock has a market capitalization of $3.13 billion, a P/E ratio of -271.08 and a beta of 1.38. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90.

Brookfield Business Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were given 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 was Friday, August 29th. Brookfield Business Partners's dividend payout ratio is presently -192.31%.

Institutional Trading of Brookfield Business Partners

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Brookfield Business Partners by 30,100.0% during 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. Rathbones Group PLC bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $265,000. Northwest & Ethical Investments L.P. bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $391,000. Bank of New York Mellon Corp lifted its position in shares of Brookfield Business Partners by 11.7% during 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. Finally, Gold Investment Management Ltd. lifted its position in shares of Brookfield Business Partners by 20.9% during the 1st 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 last quarter. 85.04% of the stock is currently owned by 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.

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