Brookfield Business Partners (NYSE:BBU) Price Target Raised to $35.00 at Royal Bank Of Canada

Brookfield Business Partners (NYSE:BBU) had its target price increased by Royal Bank Of Canada from $33.00 to $35.00 in a research note released on Tuesday, MarketBeat reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

Other analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of Brookfield Business Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, July 4th. National Bankshares lowered their price objective on shares of Brookfield Business Partners from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen downgraded shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, CIBC decreased their price target on shares of Brookfield Business Partners from $34.00 to $30.00 and set an “outperformer” rating for the company in a research note on Monday, April 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Brookfield Business Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock opened at $25.42 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 0.49 and a debt-to-equity ratio of 2.97. The stock’s fifty day moving average is $25.44 and its two-hundred day moving average is $23.78. Brookfield Business Partners has a 52 week low of $18.45 and a 52 week high of $27.47. The company has a market capitalization of $2.26 billion, a PE ratio of -195.52 and a beta of 1.38.

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 29th. Brookfield Business Partners’s dividend payout ratio is presently -192.31%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBU. Bank of New York Mellon Corp boosted 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 purchasing an additional 2,078 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in Brookfield Business Partners by 20.9% during the first quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider’s stock worth $921,000 after buying an additional 6,791 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Brookfield Business Partners by 2.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 41,794 shares of the business services provider’s stock worth $987,000 after buying an additional 1,146 shares during the period. K2 Principal Fund L.P. boosted its position in Brookfield Business Partners by 5.8% during the 4th quarter. K2 Principal Fund L.P. now owns 52,385 shares of the business services provider’s stock valued at $1,227,000 after acquiring an additional 2,880 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Brookfield Business Partners by 64.7% in the 4th quarter. Russell Investments Group Ltd. now owns 63,017 shares of the business services provider’s stock valued at $1,485,000 after acquiring an additional 24,755 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. 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.