Brookfield Business Partners (NYSE:BBU) Price Target Raised to $35.00

Key Points

• Brookfield Business Partners (NYSE:BBU) received a price target increase from $33.00 to $35.00 from Royal Bank Of Canada, indicating a potential upside of 47.55% from the previous close.
• Several analysts have rated the stock; while Royal Bank Of Canada and Scotiabank have "outperform" ratings, Wall Street Zen downgraded it to a "hold," suggesting mixed sentiment in the market.
• Institutional investors hold 85.04% of Brookfield Business Partners, with significant increases in share ownership by firms such as National Bank of Canada FI and Russell Investments Group Ltd.

Brookfield Business Partners (NYSE:BBU - Free Report) had its price target increased by Royal Bank Of Canada from $33.00 to $35.00 in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have an outperform rating on the business services provider's stock.

Several other analysts have also issued reports on BBU. Scotiabank increased their price objective on Brookfield Business Partners from $29.00 to $31.00 and gave the stock an "outperform" rating in a report on Friday, July 4th. CIBC cut their price target on 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. Wall Street Zen lowered shares of Brookfield Business Partners from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, National Bankshares reduced their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.50.

Brookfield Business Partners Price Performance

Shares of BBU opened at $25.26 on Tuesday. The business's 50-day moving average is $25.45 and its 200-day moving average is $23.79. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.49 and a quick ratio of 1.21. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -194.31 and a beta of 1.38. Brookfield Business Partners has a fifty-two week low of $18.45 and a fifty-two week high of $27.47.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 29th. Brookfield Business Partners's dividend payout ratio is currently -192.31%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in shares of Brookfield Business Partners by 11.7% in 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 purchasing an additional 2,078 shares during the last quarter. Gold Investment Management Ltd. increased its position in shares of Brookfield Business Partners by 20.9% during the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider's stock worth $921,000 after acquiring an additional 6,791 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Business Partners by 2.8% in 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 purchasing an additional 1,146 shares during the period. K2 Principal Fund L.P. boosted its position in Brookfield Business Partners by 5.8% during the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider's stock worth $1,227,000 after acquiring an additional 2,880 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Brookfield Business Partners by 64.7% in the fourth quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider's stock valued at $1,485,000 after purchasing an additional 24,755 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.