Brookfield Business Partners (NYSE:BBU) Price Target Raised to $39.00 at Royal Bank Of Canada

Brookfield Business Partners (NYSE:BBU) had its target price raised by Royal Bank Of Canada from $35.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

Several other research firms have also commented on BBU. Wall Street Zen lowered shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. National Bankshares raised their target price on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday. Scotiabank restated an “outperform” rating on shares of Brookfield Business Partners in a report on Friday. Finally, Desjardins increased their price target on Brookfield Business Partners from $31.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.83.

Brookfield Business Partners Stock Performance

Brookfield Business Partners stock opened at $32.63 on Monday. The stock’s 50-day moving average is $26.79 and its 200-day moving average is $24.88. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -250.98 and a beta of 1.34. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. Brookfield Business Partners has a 12 month low of $18.63 and a 12 month high of $33.05.

Brookfield Business Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Friday, August 29th were paid a dividend of $0.0625 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.25 annualized dividend and a yield of 0.8%. Brookfield Business Partners’s payout ratio is -192.31%.

Institutional Trading of Brookfield Business Partners

Several large investors have recently modified their holdings of BBU. Bank of America Corp DE increased its position in shares of Brookfield Business Partners by 30,100.0% during the second 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 during the last quarter. Rathbones Group PLC purchased a new stake in Brookfield Business Partners during the 2nd quarter worth approximately $265,000. Northwest & Ethical Investments L.P. purchased a new stake in Brookfield Business Partners during the 2nd quarter worth approximately $391,000. Bank of New York Mellon Corp raised its position in shares of Brookfield Business Partners by 11.7% in the 1st 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. Finally, Gold Investment Management Ltd. boosted its stake in shares of Brookfield Business Partners by 20.9% during the 1st quarter. Gold Investment Management Ltd. now owns 39,309 shares of the business services provider’s stock valued at $921,000 after buying an additional 6,791 shares during the last quarter. 85.04% of the stock is currently owned by institutional investors and hedge funds.

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.