Brookfield Business Partners (NYSE:BBU) Sets New 12-Month High at $23.78

Shares of Brookfield Business Partners L.P. (NYSE:BBU) reached a new 52-week high on Friday . The company traded as high as $23.78 and last traded at $23.46, with a volume of 2814 shares traded. The stock had previously closed at $23.47.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price target on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Business Partners presently has a consensus rating of “Buy” and a consensus price target of $31.40.

Brookfield Business Partners Stock Performance

The company has a fifty day moving average of $20.44 and a two-hundred day moving average of $19.91. The stock has a market capitalization of $1.75 billion, a P/E ratio of 3.68 and a beta of 1.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.00 and a quick ratio of 0.74.

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

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.0625 per share. The ex-dividend date is Friday, August 30th. This represents a $0.25 annualized dividend and a yield of 1.06%. Brookfield Business Partners’s payout ratio is 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in Brookfield Business Partners during the 2nd quarter worth $307,000. Gold Investment Management Ltd. acquired a new position in shares of Brookfield Business Partners during the fourth quarter valued at $618,000. The Manufacturers Life Insurance Company grew its position in shares of Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after acquiring an additional 608 shares during the last quarter. AYAL Capital Advisors Ltd grew its position in shares of Brookfield Business Partners by 97.4% during the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock worth $848,000 after acquiring an additional 22,200 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Business Partners in the 1st quarter worth about $1,405,000. 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.