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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have received an average recommendation of “Buy” from the six brokerages that are covering the company, Marketbeat reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.40.

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

Brookfield Business Partners Price Performance

Shares of BBU stock opened at $19.22 on Thursday. The stock has a 50-day moving average price of $19.88 and a 200 day moving average price of $19.91. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.24. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 3.01 and a beta of 1.45. Brookfield Business Partners has a 12 month low of $12.22 and a 12 month high of $23.75.

Brookfield Business Partners (NYSE:BBU) last announced its quarterly earnings data 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). 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. Research analysts expect that Brookfield Business Partners will post 4.52 EPS for the current year.

Brookfield Business Partners Dividend Announcement

The company 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 $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Business Partners’s payout ratio is 3.92%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in Brookfield Business Partners in the 2nd quarter valued at $307,000. Gold Investment Management Ltd. bought a new stake in shares of Brookfield Business Partners during the 4th quarter valued at $618,000. The Manufacturers Life Insurance Company lifted its position 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 valued at $770,000 after acquiring an additional 608 shares during the period. AYAL Capital Advisors Ltd lifted its position in shares of Brookfield Business Partners by 97.4% during 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 during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Brookfield Business Partners by 44.1% during the 4th quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after acquiring an additional 15,344 shares during the period. 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.