Brookfield Business Partners (NYSE:BBU) Price Target Raised to $34.00 at BMO Capital Markets

Brookfield Business Partners (NYSE:BBU) had its price objective upped by BMO Capital Markets from $32.00 to $34.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

Brookfield Business Partners Stock Performance

Shares of BBU opened at $22.10 on Friday. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. The stock’s fifty day moving average price is $24.03 and its two-hundred day moving average price is $22.10. The firm has a market cap of $1.64 billion, a PE ratio of 2.73 and a beta of 1.50.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data on Friday, November 8th. The business services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.39. The business had revenue of $9.23 billion for the quarter. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, equities research analysts forecast that Brookfield Business Partners will post 5.43 EPS for the current year.

Brookfield Business Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were issued a $0.063 dividend. The ex-dividend date was Friday, November 29th. This is an increase from Brookfield Business Partners’s previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.14%. Brookfield Business Partners’s dividend payout ratio (DPR) is 3.09%.

Institutional Investors Weigh In On Brookfield Business Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brookfield Corp ON grew its position in shares of Brookfield Business Partners by 1.7% in the third quarter. Brookfield Corp ON now owns 25,602,504 shares of the business services provider’s stock valued at $596,538,000 after purchasing an additional 428,511 shares in the last quarter. Toronto Dominion Bank grew its holdings in Brookfield Business Partners by 12,276.3% during the 3rd quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after buying an additional 258,662 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in shares of Brookfield Business Partners by 14.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 1,518,892 shares of the business services provider’s stock valued at $35,528,000 after buying an additional 188,743 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield Business Partners by 13.6% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 773,975 shares of the business services provider’s stock valued at $18,145,000 after buying an additional 92,413 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 14.7% in the third quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 641,835 shares of the business services provider’s stock worth $15,047,000 after buying an additional 82,372 shares in the last quarter. Institutional investors own 85.04% of the company’s stock.

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.