Brookfield Business Partners (NYSE:BBU) Price Target Raised to $39.00 at Scotiabank

Brookfield Business Partners (NYSE:BBU) had its price target increased by Scotiabank from $36.00 to $39.00 in a report released on Friday, Marketbeat.com reports. They currently have a sector outperform rating on the business services provider’s stock.

BBU has been the topic of a number of other research reports. Wall Street Zen lowered Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Desjardins lifted their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada boosted their target price on shares of Brookfield Business Partners from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $35.17.

Brookfield Business Partners Stock Up 1.4%

Shares of NYSE:BBU opened at $32.20 on Friday. Brookfield Business Partners has a fifty-two week low of $18.63 and a fifty-two week high of $33.05. The company has a quick ratio of 1.36, a current ratio of 1.67 and a debt-to-equity ratio of 2.90. The firm’s 50-day simple moving average is $26.65 and its 200-day simple moving average is $24.77. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -247.65 and a beta of 1.34.

Brookfield Business Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, August 29th. Brookfield Business Partners’s dividend payout ratio is -192.31%.

Institutional Trading of Brookfield Business Partners

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BROOKFIELD Corp ON increased its position in Brookfield Business Partners by 72.5% during the 1st quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock worth $28,344,000 after buying an additional 14,981 shares in the last quarter. AGF Management Ltd. lifted its stake in shares of Brookfield Business Partners by 58.2% during the first 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 during the period. Toronto Dominion Bank lifted its stake in shares of Brookfield Business Partners by 15.5% during the fourth quarter. Toronto Dominion Bank now owns 301,080 shares of the business services provider’s stock valued at $7,091,000 after buying an additional 40,311 shares during the period. Finally, Triasima Portfolio Management inc. acquired a new stake in Brookfield Business Partners during the first quarter worth approximately $3,997,000. 85.04% of the stock is currently owned by hedge funds and other 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.