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

Key Points

• Brookfield Business Partners shares hit a new 52-week high of $28.29, showing a strong upward trend in stock performance.
• Financial analysts have mixed ratings on the stock, with five analysts recommending a "Buy," while others have adjusted target prices, indicating ongoing interest from institutional investors.
• The company announced a quarterly dividend of $0.0625 per share, reflecting a 0.9% yield, despite a negative dividend payout ratio of -192.31%.

Shares of Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $28.28 and last traded at $28.29, with a volume of 18608 shares traded. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BBU. Wall Street Zen cut shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Scotiabank dropped their price objective on shares of Brookfield Business Partners from $31.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. Royal Bank Of Canada increased their price objective 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. Finally, Desjardins increased their price objective 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. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Brookfield Business Partners has an average rating of "Buy" and a consensus target price of $32.50.

Brookfield Business Partners Stock Down 0.5%

The firm's fifty day moving average price is $26.28 and its 200-day moving average price is $24.58. 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 firm has a market capitalization of $2.54 billion, a P/E ratio of -220.23 and a beta of 1.34.

Brookfield Business Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.0625 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. Brookfield Business Partners's dividend payout ratio (DPR) is -192.31%.

Institutional Trading of Brookfield Business Partners

A number of large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Brookfield Business Partners by 30,100.0% during the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock worth $31,000 after buying an additional 1,204 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Brookfield Business Partners during the second quarter worth approximately $391,000. Legal & General Group Plc bought a new stake in Brookfield Business Partners during the second quarter worth approximately $3,373,000. JPMorgan Chase & Co. boosted its holdings in Brookfield Business Partners by 636.4% during the second quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider's stock worth $934,000 after buying an additional 31,135 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its holdings in Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider's stock worth $28,344,000 after buying an additional 14,981 shares in 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.