Brookfield Business Partners L.P. (NYSE:BBU) Receives $35.83 Consensus Target Price from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $35.8333.

BBU has been the topic of several research reports. National Bankshares upped their price objective on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Zacks Research downgraded Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 30th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBU. BROOKFIELD Corp ON increased its position in shares of Brookfield Business Partners by 72.5% in the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock valued at $1,035,806,000 after buying an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Brookfield Business Partners by 1.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock valued at $28,344,000 after buying an additional 14,981 shares in the last quarter. AGF Management Ltd. increased its position in shares of Brookfield Business Partners by 58.2% in the 1st quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock valued at $8,030,000 after buying an additional 126,189 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in shares of Brookfield Business Partners in the 1st quarter valued at $3,997,000. Finally, TD Asset Management Inc increased its position in shares of Brookfield Business Partners by 2.7% in the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock valued at $3,625,000 after buying an additional 4,032 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Stock Down 3.1%

NYSE:BBU opened at $33.00 on Thursday. The stock’s fifty day moving average price is $28.29 and its two-hundred day moving average price is $25.49. Brookfield Business Partners has a 52-week low of $18.63 and a 52-week high of $34.94. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.36 and a current ratio of 1.67. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -253.83 and a beta of 1.38.

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, August 29th were paid a $0.0625 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield Business Partners’s dividend payout ratio is -192.31%.

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.