Brookfield Business Partners (NYSE:BBU) Hits New 1-Year High - Should You Buy?

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $26.96 and last traded at $26.96, with a volume of 10383 shares traded. The stock had previously closed at $26.10.

Analysts Set New Price Targets

BBU has been the topic of several recent analyst reports. Scotiabank reduced their target price on shares of 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. CIBC decreased their price objective on shares of Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research note on Monday, April 28th. 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 note on Wednesday, April 30th. Finally, Royal Bank Of Canada initiated coverage on Brookfield Business Partners in a report on Wednesday, June 18th. They set an "outperform" rating and a $33.00 price objective for the company. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $31.60.

Brookfield Business Partners Stock Up 2.6%

The business has a fifty day moving average of $23.70 and a 200-day moving average of $23.20. The stock has a market cap of $2.39 billion, a PE ratio of -78.73 and a beta of 1.32. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, May 30th. Brookfield Business Partners's dividend payout ratio (DPR) is presently -73.53%.

Hedge Funds Weigh In On Brookfield Business Partners

Large investors have recently bought and sold shares of the business. Intact Investment Management Inc. lifted its stake in shares of Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider's stock worth $68,000 after purchasing an additional 1,000 shares during the last quarter. BBR Partners LLC purchased a new stake in shares of Brookfield Business Partners during the 4th quarter valued at $241,000. Bank of New York Mellon Corp boosted its position in shares of Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock worth $415,000 after purchasing an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. grew its stake in Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider's stock worth $767,000 after buying an additional 1,017 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider's stock valued at $987,000 after buying an additional 1,146 shares in the last quarter. Institutional investors own 85.04% of the company's stock.

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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