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

Brookfield Business Partners L.P. (NYSE:BBU) has been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $31.40.

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

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors have recently bought and sold shares of BBU. Principal Financial Group Inc. raised its stake in Brookfield Business Partners by 35.7% during the 1st quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 23,258 shares during the period. K2 Principal Fund L.P. increased its stake in shares of Brookfield Business Partners by 58.3% in the first quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider’s stock worth $3,455,000 after purchasing an additional 57,553 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $307,000. Bank of Montreal Can lifted its stake in shares of Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider’s stock valued at $15,036,000 after buying an additional 22,886 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings 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 worth $12,910,000 after buying an additional 77,017 shares during the period. 85.04% of the stock is owned by institutional investors.

Brookfield Business Partners Trading Down 2.3 %

Shares of NYSE BBU opened at $21.68 on Friday. The firm’s 50 day moving average price is $21.99 and its 200-day moving average price is $20.21. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $24.96. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. The company has a market cap of $1.61 billion, a PE ratio of 3.40 and a beta of 1.45.

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

Brookfield Business Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.15%. 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.