Brookfield Business Partners L.P. (NYSE:BBU) Given Average Rating of “Moderate Buy” by Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $36.50.

BBU has been the topic of several recent analyst reports. National Bankshares boosted their price objective on Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Zacks Research upgraded shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Scotiabank set a $39.00 target price on shares of Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd.

Institutional Investors Weigh In On Brookfield Business Partners

A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in shares of Brookfield Business Partners by 30,100.0% in the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,204 shares during the period. Guardian Partners Inc. purchased a new stake in Brookfield Business Partners in the 3rd quarter worth approximately $221,000. Rathbones Group PLC acquired a new stake in shares of Brookfield Business Partners during the 2nd quarter valued at $265,000. Cumberland Partners Ltd purchased a new position in shares of Brookfield Business Partners during the 3rd quarter valued at $318,000. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Brookfield Business Partners in the second quarter worth $391,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Stock Down 0.6%

Shares of Brookfield Business Partners stock opened at $35.52 on Tuesday. Brookfield Business Partners has a 12-month low of $18.63 and a 12-month high of $36.90. The firm has a market capitalization of $3.12 billion, a PE ratio of -19.73 and a beta of 1.32. The company has a quick ratio of 1.41, a current ratio of 1.71 and a debt-to-equity ratio of 2.84. The stock’s fifty day moving average is $34.20 and its 200-day moving average is $29.63.

Brookfield Business Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, November 28th will be given a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Business Partners’s payout ratio is presently -13.89%.

About Brookfield Business Partners

Brookfield Business Partners L.P. (NYSE: BBU) is a publicly traded partnership sponsored by Brookfield Asset Management. The company focuses on acquiring and operating high-quality businesses across a range of industrial and service-oriented sectors. Through a partnership structure, Brookfield Business Partners seeks to provide investors with returns generated from stable, cash-flowing enterprises that benefit from Brookfield Asset Management’s global scale and operational expertise.

The company’s investment strategy centers on businesses within the industrial services, manufacturing, transportation, and business services segments.