Brookfield Business Partners (NYSE:BBU) Reaches New 12-Month High - Here's Why

Key Points

• Brookfield Business Partners (NYSE:BBU) reached a new 52-week high at $33.13, with recent trading activity showing a volume of 46,935 shares.
• Multiple analysts have increased their price targets, with Royal Bank Of Canada and National Bankshares both setting a new target of $39.00 and rating the stock as "outperform."
• The company has declared a quarterly dividend of $0.0625 per share, representing an annualized yield of 0.8% and a negative payout ratio of 192.31%.

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $33.13 and last traded at $33.05, with a volume of 46935 shares traded. The stock had previously closed at $32.61.

Analyst Ratings Changes

BBU has been the topic of a number of recent research reports. Royal Bank Of Canada boosted their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an "outperform" rating in a research report on Monday. National Bankshares boosted their price target on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the stock an "outperform" rating in a research report on Friday, September 26th. Scotiabank restated an "outperform" rating on shares of Brookfield Business Partners in a research report on Friday, September 26th. Desjardins lifted their target price 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. Finally, Wall Street Zen downgraded shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Brookfield Business Partners presently has a consensus rating of "Buy" and a consensus price target of $35.83.

Brookfield Business Partners Stock Up 1.0%

The business's 50 day moving average price is $26.93 and its 200-day moving average price is $24.94. The firm has a market capitalization of $2.92 billion, a PE ratio of -253.47 and a beta of 1.34. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67.

Brookfield Business Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Business Partners's payout ratio is -192.31%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE grew its holdings in shares of Brookfield Business Partners by 30,100.0% in the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider's stock valued at $31,000 after purchasing an additional 1,204 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of Brookfield Business Partners in the second quarter valued at approximately $265,000. Northwest & Ethical Investments L.P. acquired a new position in shares of Brookfield Business Partners in the second quarter valued at approximately $391,000. Bank of New York Mellon Corp grew its holdings in shares of Brookfield Business Partners by 11.7% in the first quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider's stock valued at $465,000 after purchasing an additional 2,078 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Brookfield Business Partners by 636.4% in the second quarter. JPMorgan Chase & Co. now owns 36,027 shares of the business services provider's stock valued at $934,000 after purchasing an additional 31,135 shares in the last quarter. Institutional investors and hedge funds 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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