Brookfield Business Partners L.P. (NYSE:BBU) Receives $35.83 Consensus Price Target from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has received a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $35.8333.

Several equities research analysts have commented on BBU shares. Desjardins boosted their price objective on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen lowered Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Royal Bank Of Canada boosted their price objective on Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, National Bankshares boosted their price objective on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th.

Brookfield Business Partners Stock Performance

NYSE BBU opened at $35.92 on Thursday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -276.34 and a beta of 1.38. Brookfield Business Partners has a twelve month low of $18.63 and a twelve month high of $36.72. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $28.94 and a 200 day moving average of $25.72.

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 given a $0.0625 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield Business Partners’s dividend payout ratio is -192.31%.

Institutional Investors Weigh In On Brookfield Business Partners

A number of large investors have recently made changes to their positions in BBU. Bank of America Corp DE grew its position 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 purchased a new stake in shares of Brookfield Business Partners in the second quarter valued at approximately $265,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Brookfield Business Partners in the second quarter valued at approximately $391,000. Bank of New York Mellon Corp grew its position 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, Gold Investment Management Ltd. grew its position in shares of Brookfield Business Partners by 20.9% in the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider’s stock valued at $921,000 after purchasing an additional 6,791 shares in the last quarter. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.