Brookfield Business Partners L.P. (NYSE:BBU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $36.50.

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

Brookfield Business Partners Stock Up 0.1%

NYSE:BBU opened at $36.63 on Tuesday. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41. The company’s fifty day moving average price is $34.29 and its 200-day moving average price is $30.02. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $36.90. The firm has a market capitalization of $3.22 billion, a P/E ratio of -20.35 and a beta of 1.32.

Brookfield Business Partners Dividend Announcement

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

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently modified their holdings of BBU. BROOKFIELD Corp ON boosted its position in Brookfield Business Partners by 72.5% during the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of Brookfield Business Partners by 5.3% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 1,338,079 shares of the business services provider’s stock worth $43,786,000 after buying an additional 67,295 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Brookfield Business Partners by 1.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,119,781 shares of the business services provider’s stock worth $35,513,000 after buying an additional 17,508 shares during the period. Picton Mahoney Asset Management lifted its position in shares of Brookfield Business Partners by 74.4% during the 3rd quarter. Picton Mahoney Asset Management now owns 696,679 shares of the business services provider’s stock valued at $22,849,000 after buying an additional 297,180 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Brookfield Business Partners by 14.4% in the 3rd quarter. Bank of Montreal Can now owns 553,148 shares of the business services provider’s stock valued at $18,140,000 after acquiring an additional 69,657 shares during the period. Hedge funds and other 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.