Brookfield Business Partners (NYSE:BBU) Reaches New 12-Month High – Should You Buy?

Shares of Brookfield Business Partners L.P. (NYSE:BBU) reached a new 52-week high on Monday . The company traded as high as $37.12 and last traded at $36.5950, with a volume of 6798 shares trading hands. The stock had previously closed at $35.83.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BBU shares. Scotiabank set a $39.00 price target on Brookfield Business Partners and gave the company an “outperform” rating in a report on Thursday, October 2nd. Zacks Research raised shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. National Bankshares raised their price objective on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Brookfield Business Partners has a consensus rating of “Moderate Buy” and a consensus target price of $36.50.

Brookfield Business Partners Price Performance

The firm has a 50-day simple moving average of $34.36 and a 200-day simple moving average of $30.31. The firm has a market capitalization of $3.24 billion, a PE ratio of -20.60 and a beta of 1.31. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41.

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Business Partners’s dividend payout ratio is currently -13.89%.

Hedge Funds Weigh In On Brookfield Business Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in Brookfield Business Partners by 0.6% during the 3rd quarter. Legal & General Group Plc now owns 130,620 shares of the business services provider’s stock valued at $4,285,000 after acquiring an additional 726 shares during the period. Bank of America Corp DE raised its stake in shares of Brookfield Business Partners by 30,100.0% during the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,204 shares in the last quarter. Gold Investment Management Ltd. grew its position in Brookfield Business Partners by 5.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock worth $1,452,000 after purchasing an additional 2,276 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted 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 period. Finally, Guardian Partners Inc. purchased a new stake in Brookfield Business Partners in the third quarter valued at $221,000. Institutional investors own 85.04% of the company’s stock.

Brookfield Business Partners Company Profile

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.