Brookfield Business Partners L.P. to Issue Quarterly Dividend of $0.06 (NYSE:BBU)

Brookfield Business Partners L.P. (NYSE:BBU) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.0625 per share by the business services provider on Monday, June 30th. This represents a $0.25 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Friday, May 30th.

Brookfield Business Partners has a dividend payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield Business Partners to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.25 annual dividend with an expected future payout ratio of 4.3%.

Brookfield Business Partners Price Performance

BBU stock opened at $24.69 on Wednesday. The firm has a 50 day moving average of $22.58 and a 200-day moving average of $23.22. The firm has a market capitalization of $2.21 billion, a P/E ratio of -50.39 and a beta of 1.28. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75. The company has a current ratio of 0.50, a quick ratio of 0.39 and a debt-to-equity ratio of 2.12.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Brookfield Business Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. National Bankshares dropped their price target on Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Scotiabank cut their price objective on Brookfield Business Partners from $33.00 to $29.00 and set a “sector outperform” rating for the company in a report on Thursday, April 24th. Finally, CIBC lowered their target price on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating on the stock in a research note on Monday, April 28th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, Brookfield Business Partners presently has an average rating of “Buy” and a consensus target price of $31.00.

About Brookfield Business Partners

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.