Brookfield Business Partners L.P. (NYSE:BBU) Receives Average Rating of “Hold” from Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $36.50.

Several research firms have recently commented on BBU. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday, October 8th. 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. Wall Street Zen lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Royal Bank Of Canada lifted their price target on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Finally, National Bankshares increased 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.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in 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 buying an additional 1,204 shares in the last quarter. Rathbones Group PLC acquired a new stake in shares of Brookfield Business Partners in the 2nd quarter worth approximately $265,000. Cumberland Partners Ltd bought a new position in shares of Brookfield Business Partners in the third quarter valued at approximately $318,000. Northwest & Ethical Investments L.P. bought a new position in shares of Brookfield Business Partners in the second quarter valued at approximately $391,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Brookfield Business Partners by 11.7% during the first 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 period. Institutional investors and hedge funds own 85.04% of the company’s stock.

Brookfield Business Partners Trading Down 9.7%

NYSE:BBU opened at $30.56 on Monday. The firm has a market capitalization of $2.71 billion, a P/E ratio of -16.98 and a beta of 1.39. The business has a 50 day simple moving average of $31.73 and a 200 day simple moving average of $27.42. The company has a debt-to-equity ratio of 2.90, a current ratio of 0.28 and a quick ratio of 0.20. Brookfield Business Partners has a 12-month low of $18.63 and a 12-month high of $36.90.

Brookfield Business Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a $0.0625 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.8%. Brookfield Business Partners’s dividend payout ratio is presently -13.89%.

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.