Brokerages Set Brookfield Business Partners L.P. (NYSE:BBU) Price Target at $31.40

Brookfield Business Partners L.P. (NYSE:BBU) has earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $31.40.

Separately, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price target on shares of Brookfield Business Partners in a research note on Monday, August 5th.

Brookfield Business Partners Stock Up 0.1 %

Shares of BBU stock opened at $20.10 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 2.24. Brookfield Business Partners has a 1 year low of $12.22 and a 1 year high of $23.75. The firm’s fifty day moving average price is $19.95 and its two-hundred day moving average price is $19.86. The firm has a market capitalization of $1.49 billion, a P/E ratio of 3.15 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, August 2nd. The business services provider reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.95). Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. The business had revenue of $11.95 billion during the quarter. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, equities analysts predict that Brookfield Business Partners will post 4.52 EPS for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Friday, August 30th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Partners Value Investments L.P. grew its position in shares of Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock valued at $60,527,000 after acquiring an additional 19,061 shares during the period. Bank of Montreal Can boosted its holdings in shares of Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock worth $15,036,000 after buying an additional 22,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock worth $12,910,000 after buying an additional 77,017 shares during the period. TD Asset Management Inc boosted its holdings in shares of Brookfield Business Partners by 4.1% during the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider’s stock worth $3,328,000 after buying an additional 6,290 shares during the period. Finally, K2 Principal Fund L.P. boosted its holdings in shares of Brookfield Business Partners by 58.3% during the 1st quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after buying an additional 57,553 shares during the period. Institutional investors 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.