Royal Bank of Canada Trims Brookfield Business Partners (NYSE:BBU) Target Price to $31.00

Brookfield Business Partners (NYSE:BBU) had its price target lowered by Royal Bank of Canada from $32.00 to $31.00 in a research note published on Monday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

Other analysts have also recently issued reports about the company. TheStreet cut Brookfield Business Partners from a c rating to a d+ rating in a research note on Wednesday, March 13th. National Bankshares upped their target price on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an outperform rating in a report on Monday, February 5th. BMO Capital Markets upped their price target on Brookfield Business Partners from $30.00 to $31.00 and gave the stock an outperform rating in a research note on Monday. Scotiabank raised their price objective on Brookfield Business Partners from $26.50 to $28.00 and gave the company a sector outperform rating in a research report on Monday, February 5th. Finally, Desjardins upped their price objective on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the stock a buy rating in a report on Monday, February 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Brookfield Business Partners currently has a consensus rating of Buy and an average target price of $30.33.

Brookfield Business Partners Trading Up 1.6 %

Shares of BBU stock opened at $19.17 on Monday. The business’s fifty day moving average is $20.51 and its 200 day moving average is $19.35. Brookfield Business Partners has a 52-week low of $12.22 and a 52-week high of $23.75. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.78 and a current ratio of 1.04. The company has a market capitalization of $1.42 billion, a PE ratio of 3.00 and a beta of 1.44.

Brookfield Business Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a $0.0625 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.25 annualized dividend and a yield of 1.30%. Brookfield Business Partners’s payout ratio is 3.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in shares of Brookfield Business Partners by 35.7% during the 1st quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after acquiring an additional 23,258 shares during the last quarter. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Business Partners during the 1st quarter valued at approximately $1,405,000. Partners Value Investments L.P. boosted its position in shares of Brookfield Business Partners by 0.7% during the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock valued at $60,527,000 after acquiring an additional 19,061 shares during the last quarter. K2 Principal Fund L.P. bought a new position in shares of Brookfield Business Partners during the 4th quarter valued at approximately $2,033,000. Finally, Gold Investment Management Ltd. bought a new stake in Brookfield Business Partners in the fourth quarter worth $618,000. 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.