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

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

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

Institutional Trading of Brookfield Business Partners

A number of institutional investors have recently added to or reduced their stakes in BBU. Intact Investment Management Inc. acquired a new position in Brookfield Business Partners during the third quarter worth $45,000. Tandem Capital Management Corp ADV increased its position in shares of Brookfield Business Partners by 24.5% in the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after buying an additional 7,939 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield Business Partners by 1.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after buying an additional 608 shares during the last quarter. AYAL Capital Advisors Ltd boosted its position in shares of 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 worth $848,000 after buying an additional 22,200 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Brookfield Business Partners by 12.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider’s stock valued at $12,910,000 after acquiring an additional 77,017 shares during the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Price Performance

Shares of NYSE:BBU opened at $21.63 on Friday. 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 has a one year low of $12.22 and a one year high of $24.96. The company has a 50-day simple moving average of $22.02 and a 200-day simple moving average of $20.23. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 3.39 and a beta of 1.45.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, August 2nd. The business services provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.95). The company had revenue of $11.95 billion for 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 earned $0.85 earnings per share. On average, analysts predict that Brookfield Business Partners will post 4.52 EPS for the current year.

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Business Partners’s payout ratio is 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.