Brookfield Business Partners (NYSE:BBU) Given a $39.00 Price Target by Scotiabank Analysts

Scotiabank set a $39.00 target price on Brookfield Business Partners (NYSE:BBU) in a research report report published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other equities analysts have also recently commented on BBU. Wall Street Zen cut Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada lifted their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Desjardins increased their target price on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. National Bankshares lifted their price target on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Finally, Zacks Research lowered shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $35.83.

Brookfield Business Partners Trading Up 1.3%

BBU opened at $33.39 on Thursday. The firm has a market cap of $2.96 billion, a P/E ratio of -256.85 and a beta of 1.38. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $33.86. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The stock has a 50-day moving average of $27.38 and a 200 day moving average of $25.14.

Brookfield Business Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 29th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -192.31%.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in shares of Brookfield Business Partners by 30,100.0% during the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,204 shares during the period. Bank of New York Mellon Corp raised its position in Brookfield Business Partners by 11.7% during the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock valued at $465,000 after purchasing an additional 2,078 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in shares of Brookfield Business Partners by 6.8% in the 2nd quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider’s stock worth $1,092,000 after buying an additional 2,685 shares during the period. TD Asset Management Inc grew its position in shares of Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after buying an additional 4,032 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Brookfield Business Partners by 6.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock valued at $2,439,000 after buying an additional 6,090 shares during the period. 85.04% of the stock is currently owned by institutional investors.

Brookfield Business Partners Company Profile

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.