Royal Bank Of Canada Initiates Coverage on Brookfield Business Partners (NYSE:BBU)

Royal Bank Of Canada began coverage on shares of Brookfield Business Partners (NYSE:BBU - Free Report) in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage issued an outperform rating and a $33.00 price objective on the business services provider's stock.

BBU has been the subject of a number of other research reports. National Bankshares reduced their target price on Brookfield Business Partners from $36.00 to $32.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Scotiabank cut their price target on Brookfield Business Partners from $33.00 to $29.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, 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 report on Monday, April 28th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Brookfield Business Partners currently has a consensus rating of "Buy" and an average target price of $31.60.

Brookfield Business Partners Price Performance

Shares of Brookfield Business Partners stock traded up $0.34 during mid-day trading on Wednesday, reaching $25.59. 8,733 shares of the stock traded hands, compared to its average volume of 16,445. The business has a 50-day moving average of $23.59 and a 200 day moving average of $23.21. Brookfield Business Partners has a fifty-two week low of $16.85 and a fifty-two week high of $26.75. The stock has a market capitalization of $2.29 billion, a PE ratio of -75.26 and a beta of 1.32. The company has a quick ratio of 1.21, a current ratio of 1.48 and a debt-to-equity ratio of 2.97.

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.25 annualized dividend and a yield of 0.98%. Brookfield Business Partners's dividend payout ratio (DPR) is -73.53%.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON increased its stake in Brookfield Business Partners by 72.5% during 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 acquiring an additional 18,549,503 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in Brookfield Business Partners by 6.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider's stock worth $2,439,000 after acquiring an additional 6,090 shares during the last quarter. AGF Management Ltd. increased its stake in 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 worth $8,030,000 after acquiring an additional 126,189 shares during the last quarter. TD Asset Management Inc increased its stake 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 worth $3,625,000 after acquiring an additional 4,032 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in Brookfield Business Partners during the first quarter worth $3,997,000. Institutional investors and hedge funds own 85.04% of the company's stock.

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.