Brookfield Business Partners (NYSE:BBU) Price Target Raised to $33.00 at Scotiabank

Brookfield Business Partners (NYSE:BBU) had its target price increased by Scotiabank from $32.00 to $33.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the business services provider’s stock.

Separately, BMO Capital Markets raised their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $32.60.

Brookfield Business Partners Price Performance

BBU opened at $21.51 on Monday. The firm’s fifty day moving average price is $23.24 and its two-hundred day moving average price is $22.36. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -43.89 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.17 and a quick ratio of 0.95. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.00%. As a group, analysts anticipate that Brookfield Business Partners will post 5.26 earnings per share for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be given a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners’s dividend payout ratio (DPR) is presently -51.02%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Caldwell Investment Management Ltd. purchased a new stake in Brookfield Business Partners during the fourth quarter valued at about $1,731,000. Principal Financial Group Inc. boosted its stake in Brookfield Business Partners by 29.9% in the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock worth $2,731,000 after buying an additional 26,947 shares in the last quarter. Toronto Dominion Bank grew its position in Brookfield Business Partners by 12,276.3% during the third quarter. Toronto Dominion Bank now owns 260,769 shares of the business services provider’s stock valued at $6,076,000 after acquiring an additional 258,662 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Brookfield Business Partners by 20.6% during the third quarter. National Bank of Canada FI now owns 97,584 shares of the business services provider’s stock worth $2,274,000 after acquiring an additional 16,684 shares in the last quarter. Finally, Brookfield Corp ON boosted its position in Brookfield Business Partners by 1.7% during 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 buying an additional 428,511 shares during the period. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.