Brookfield Business Partners L.P. (NYSE:BBU) Raises Dividend to $0.06 Per Share

Brookfield Business Partners L.P. (NYSE:BBUGet Rating) declared a quarterly dividend on Thursday, May 5th, Zacks reports. Shareholders of record on Tuesday, May 31st will be paid a dividend of 0.063 per share by the business services provider on Thursday, June 30th. This represents a $0.25 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, May 27th. This is a positive change from Brookfield Business Partners’s previous quarterly dividend of $0.06.

Brookfield Business Partners has a payout ratio of 41.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brookfield Business Partners to earn $6.70 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 3.7%.

Shares of NYSE:BBU traded down $0.66 during midday trading on Wednesday, hitting $22.31. The company had a trading volume of 40,456 shares, compared to its average volume of 29,261. Brookfield Business Partners has a 12 month low of $20.26 and a 12 month high of $51.98. The company has a current ratio of 1.14, a quick ratio of 0.35 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -202.80 and a beta of 1.54. The firm has a fifty day simple moving average of $26.36 and a 200 day simple moving average of $38.41.

Brookfield Business Partners (NYSE:BBUGet Rating) last posted its quarterly earnings results on Friday, May 6th. The business services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($1.31). Brookfield Business Partners had a return on equity of 1.59% and a net margin of 0.38%. During the same period in the prior year, the business earned $3.67 earnings per share. Equities analysts forecast that Brookfield Business Partners will post 6.03 EPS for the current fiscal year.

Several research firms have recently issued reports on BBU. Zacks Investment Research lowered Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 22nd. National Bank Financial dropped their price objective on Brookfield Business Partners from $68.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 16th. TheStreet raised Brookfield Business Partners from a “d” rating to a “c-” rating in a research note on Wednesday, March 23rd. Desjardins raised their price objective on Brookfield Business Partners from $57.00 to $59.00 in a research note on Monday, February 7th. Finally, National Bankshares dropped their price objective on Brookfield Business Partners from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 9th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $50.50.

Several hedge funds and other institutional investors have recently made changes to their positions in BBU. Invesco Ltd. grew its holdings in shares of Brookfield Business Partners by 38.9% in the 4th quarter. Invesco Ltd. now owns 135,506 shares of the business services provider’s stock valued at $6,240,000 after acquiring an additional 37,953 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Brookfield Business Partners by 2.5% in the 1st quarter. 1832 Asset Management L.P. now owns 1,337,835 shares of the business services provider’s stock valued at $40,399,000 after acquiring an additional 33,160 shares in the last quarter. Susquehanna International Group LLP grew its holdings in shares of Brookfield Business Partners by 592.4% in the 4th quarter. Susquehanna International Group LLP now owns 9,576 shares of the business services provider’s stock valued at $441,000 after acquiring an additional 8,193 shares in the last quarter. UBS Group AG grew its holdings in shares of Brookfield Business Partners by 31.5% in the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock valued at $189,000 after acquiring an additional 1,468 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Brookfield Business Partners by 7.6% during the second quarter. Wells Fargo & Company MN now owns 4,951 shares of the business services provider’s stock worth $229,000 after purchasing an additional 350 shares during the period. Institutional investors own 74.20% of the company’s stock.

Brookfield Business Partners Company Profile (Get Rating)

Brookfield Business Partners L.P. is a private equity firm specializes in acquisition. The firm typically invests in business 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. Brookfield Business Partners L.P.

Further Reading

Dividend History for Brookfield Business Partners (NYSE:BBU)

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