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

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

Wall Street Analysts Forecast Growth

Several analysts have commented on BBU shares. Royal Bank Of Canada initiated coverage on shares of Brookfield Business Partners in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $33.00 price objective on the stock. Scotiabank decreased their price target on shares of Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. National Bankshares dropped their price objective 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, CIBC decreased their target price on Brookfield Business Partners from $34.00 to $30.00 and set an "outperformer" rating for the company in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $31.60.

Brookfield Business Partners Stock Down 0.6%

The company has a debt-to-equity ratio of 2.97, a current ratio of 1.48 and a quick ratio of 1.21. The company has a fifty day moving average price of $24.02 and a 200 day moving average price of $23.24. The company has a market cap of $2.24 billion, a PE ratio of -74.28 and a beta of 1.32.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, May 30th will be issued a dividend of $0.0625 per share. The ex-dividend date is Friday, May 30th. This represents a $0.25 dividend on an annualized basis and a yield of 0.99%. Brookfield Business Partners's dividend payout ratio is currently -73.53%.

Institutional Trading of Brookfield Business Partners

A number of institutional investors have recently modified their holdings of the company. BROOKFIELD Corp ON lifted its holdings in Brookfield Business Partners by 72.5% in the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider's stock worth $1,035,806,000 after buying an additional 18,549,503 shares during the period. Federation des caisses Desjardins du Quebec raised its position in shares of 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 worth $2,439,000 after purchasing an additional 6,090 shares during the last quarter. AGF Management Ltd. increased its position in shares of Brookfield Business Partners by 58.2% during the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider's stock valued at $8,030,000 after acquiring an additional 126,189 shares in the last quarter. TD Asset Management Inc lifted its position in Brookfield Business Partners by 2.7% during the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider's stock valued at $3,625,000 after purchasing an additional 4,032 shares during the period. Finally, Triasima Portfolio Management inc. purchased a new stake in Brookfield Business Partners in the first quarter worth approximately $3,997,000. 85.04% of the stock is currently 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.