Brookfield Business Partners (NYSE:BBU) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada assumed coverage on shares of Brookfield Business Partners (NYSE:BBU) in a research report sent to investors on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $33.00 target price on the business services provider’s stock.

A number of other research firms have also recently issued reports on BBU. Scotiabank cut their price target on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. CIBC decreased their target price on Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating for the company in a research report on Monday, April 28th. Finally, National Bankshares decreased their target price on Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $31.60.

Brookfield Business Partners Stock Up 1.3%

Shares of NYSE BBU opened at $25.59 on Wednesday. The stock has a market cap of $2.29 billion, a PE ratio of -75.26 and a beta of 1.32. The business has a fifty day moving average of $23.59 and a two-hundred day moving average of $23.22. Brookfield Business Partners has a 52-week low of $16.85 and a 52-week high of $26.75. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.21 and a current ratio of 1.48.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, May 30th. Brookfield Business Partners’s payout ratio is -73.53%.

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors have recently bought and sold shares of BBU. Intact Investment Management Inc. raised its stake in shares of Brookfield Business Partners by 52.6% during the 4th quarter. Intact Investment Management Inc. now owns 2,900 shares of the business services provider’s stock worth $68,000 after purchasing an additional 1,000 shares in the last quarter. BBR Partners LLC acquired a new position in Brookfield Business Partners in the 4th quarter valued at $241,000. Bank of New York Mellon Corp grew its holdings in Brookfield Business Partners by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider’s stock valued at $415,000 after buying an additional 1,448 shares in the last quarter. Gold Investment Management Ltd. grew its holdings in shares of Brookfield Business Partners by 3.2% during the 4th quarter. Gold Investment Management Ltd. now owns 32,518 shares of the business services provider’s stock worth $767,000 after purchasing an additional 1,017 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Brookfield Business Partners by 2.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock worth $987,000 after purchasing an additional 1,146 shares in the last quarter. Institutional investors 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.