Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) Target Price at $32.60

Brookfield Business Partners L.P. (NYSE:BBU) has received an average rating of “Buy” from the four brokerages that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.33.

A number of analysts have recently commented on BBU shares. Scotiabank boosted their price target on Brookfield Business Partners from $32.00 to $33.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their target price on Brookfield Business Partners from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Royal Bank of Canada lowered their price target on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd.

Brookfield Business Partners Stock Up 1.7 %

Shares of NYSE:BBU opened at $23.07 on Tuesday. The firm has a market capitalization of $1.71 billion, a P/E ratio of -47.08 and a beta of 1.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 0.50. The stock has a 50 day moving average price of $22.87 and a 200-day moving average price of $22.44. Brookfield Business Partners has a 52-week low of $16.85 and a 52-week high of $26.75.

Brookfield Business Partners (NYSE:BBU) last posted its quarterly earnings data on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a return on equity of 5.09% and a net margin of 2.20%. As a group, equities research analysts anticipate that Brookfield Business Partners will post 5.25 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, February 28th will be issued a $0.0625 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Business Partners’s payout ratio is -51.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider’s stock worth $770,000 after buying an additional 608 shares in the last quarter. Tandem Capital Management Corp ADV boosted its holdings in shares of Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider’s stock valued at $890,000 after acquiring an additional 7,939 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of Brookfield Business Partners in the third quarter worth approximately $45,000. Principal Financial Group Inc. raised its holdings in shares of Brookfield Business Partners by 29.9% during the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider’s stock valued at $2,731,000 after purchasing an additional 26,947 shares during the last quarter. Finally, Gold Investment Management Ltd. lifted its position in Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider’s stock valued at $739,000 after purchasing an additional 2,169 shares during the period. 85.04% of the stock is 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.