Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) Price Target at $29.67

Brookfield Business Partners L.P. (NYSE:BBU) has been assigned a consensus rating of “Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among analysts that have issued a report on the stock in the last year is $30.33.

A number of analysts have recently weighed in on the stock. Scotiabank raised their price target on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 5th. TheStreet downgraded Brookfield Business Partners from a “c” rating to a “d+” rating in a report on Wednesday, March 13th. BMO Capital Markets increased their target price on shares of Brookfield Business Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. Royal Bank of Canada cut their target price on shares of Brookfield Business Partners from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Monday. Finally, National Bankshares boosted their price objective on Brookfield Business Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, February 5th.

Brookfield Business Partners Stock Performance

NYSE:BBU opened at $18.95 on Friday. Brookfield Business Partners has a 1-year low of $12.22 and a 1-year high of $23.75. The stock has a market cap of $1.41 billion, a P/E ratio of 2.97 and a beta of 1.44. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.04 and a quick ratio of 0.78. The firm has a 50-day moving average of $20.55 and a two-hundred day moving average of $19.35.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.0625 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.25 annualized dividend and a dividend yield of 1.32%. Brookfield Business Partners’s dividend payout ratio (DPR) is presently 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Brookfield Business Partners by 3.9% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 304,114 shares of the business services provider’s stock worth $4,427,000 after purchasing an additional 11,304 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Brookfield Business Partners by 77.9% in the 3rd quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after buying an additional 28,541 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Brookfield Business Partners during the third quarter valued at $476,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Brookfield Business Partners by 4.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock worth $2,525,000 after acquiring an additional 6,700 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in shares of Brookfield Business Partners by 19.3% during the third quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock worth $1,229,000 after purchasing an additional 13,155 shares in the last quarter. Hedge funds and other 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.