Brookfield Business Partners L.P. (NYSE:BBU) Given Average Rating of “Buy” by Brokerages

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have received an average rating of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $31.40.

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

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of BBU. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Business Partners during the second quarter worth $307,000. The Manufacturers Life Insurance Company increased its position in Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock valued at $770,000 after acquiring an additional 608 shares in the last quarter. AYAL Capital Advisors Ltd increased its position in Brookfield Business Partners by 97.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider’s stock valued at $848,000 after acquiring an additional 22,200 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in shares of Brookfield Business Partners during the first quarter worth approximately $1,405,000. Finally, Principal Financial Group Inc. grew its stake in shares of Brookfield Business Partners by 35.7% during the first quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 23,258 shares during the last quarter. 85.04% of the stock is owned by institutional investors and hedge funds.

Brookfield Business Partners Trading Up 2.0 %

Shares of BBU stock opened at $23.93 on Monday. The firm has a fifty day moving average of $20.59 and a 200-day moving average of $19.95. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 3.75 and a beta of 1.45. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $23.93. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00.

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

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Business Partners’s payout ratio is currently 3.92%.

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.