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

Brookfield Business Partners (NYSE:BBU) had its price objective upped by Royal Bank Of Canada from $35.00 to $39.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

BBU has been the topic of several other research reports. Wall Street Zen lowered Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Desjardins boosted their target price on Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a research report on Friday, September 26th. Finally, National Bankshares lifted their price target on Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $35.83.

Brookfield Business Partners Stock Up 1.0%

BBU stock opened at $32.95 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.36 and a debt-to-equity ratio of 2.90. The company’s 50-day moving average price is $27.07 and its 200 day moving average price is $24.99. Brookfield Business Partners has a 52 week low of $18.63 and a 52 week high of $33.19. The company has a market cap of $2.92 billion, a P/E ratio of -253.47 and a beta of 1.38.

Brookfield Business Partners Announces Dividend

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

Hedge Funds Weigh In On Brookfield Business Partners

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Brookfield Business Partners by 30,100.0% during the second quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,204 shares during the period. Bank of New York Mellon Corp raised its holdings in Brookfield Business Partners by 11.7% in the 1st quarter. Bank of New York Mellon Corp now owns 19,802 shares of the business services provider’s stock valued at $465,000 after acquiring an additional 2,078 shares during the last quarter. Gold Investment Management Ltd. raised its holdings in Brookfield Business Partners by 6.8% in the 2nd quarter. Gold Investment Management Ltd. now owns 41,994 shares of the business services provider’s stock valued at $1,092,000 after acquiring an additional 2,685 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Brookfield Business Partners by 2.7% during the 1st quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock worth $3,625,000 after purchasing an additional 4,032 shares during the period. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of Brookfield Business Partners by 6.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock worth $2,439,000 after purchasing an additional 6,090 shares during the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.

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.