Brookfield Business Partners L.P. (BBU) to Issue Quarterly Dividend of $0.06 on June 30th

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be given a dividend of 0.0625 per share by the business services provider on Monday, June 30th. This represents a $0.25 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Friday, May 30th.

Brookfield Business Partners has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield Business Partners to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.3%.

Brookfield Business Partners Price Performance

BBU stock opened at $21.25 on Wednesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.50 and a quick ratio of 0.39. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75. The firm has a 50-day moving average of $22.22 and a 200 day moving average of $23.05. The company has a market cap of $1.90 billion, a P/E ratio of -43.37 and a beta of 1.28.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. CIBC decreased their price objective 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. Scotiabank dropped their target price on shares of Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada reduced their target price on shares of Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, National Bankshares dropped their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $31.00.

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.