Desjardins Issues Positive Forecast for Brookfield Business Partners (NYSE:BBU) Stock Price

Brookfield Business Partners (NYSE:BBU) had its price target upped by Desjardins from $41.00 to $43.00 in a research report report published on Monday,BayStreet.CA reports. Desjardins currently has a buy rating on the business services provider’s stock.

A number of other equities analysts have also issued reports on the company. 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, November 7th. Royal Bank Of Canada increased their price target on Brookfield Business Partners from $43.00 to $44.00 and gave the stock an “outperform” rating in a research note on Monday. Zacks Research raised Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brookfield Business Partners in a report on Wednesday, January 21st. Finally, BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

Brookfield Business Partners Stock Up 3.5%

Brookfield Business Partners stock opened at $36.25 on Monday. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.41 and a current ratio of 1.71. Brookfield Business Partners has a one year low of $18.63 and a one year high of $37.38. The company has a 50-day simple moving average of $35.36 and a 200-day simple moving average of $31.71. The firm has a market capitalization of $3.18 billion, a P/E ratio of -139.42 and a beta of 1.31.

Brookfield Business Partners (NYSE:BBU) last posted its earnings results on Friday, January 30th. The business services provider reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($1.86). Brookfield Business Partners had a net margin of 1.41% and a return on equity of 2.67%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $3.46 billion. As a group, equities analysts expect that Brookfield Business Partners will post 5.25 earnings per share for the current year.

Brookfield Business Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were issued a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Business Partners’s payout ratio is presently -96.15%.

Institutional Investors Weigh In On Brookfield Business Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Picton Mahoney Asset Management boosted 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 purchasing an additional 297,180 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Brookfield Business Partners by 796.3% during the third quarter. JPMorgan Chase & Co. now owns 322,899 shares of the business services provider’s stock worth $10,530,000 after buying an additional 286,872 shares in the last quarter. Credit Industriel ET Commercial bought a new stake in Brookfield Business Partners during the third quarter worth approximately $4,905,000. Legal & General Group Plc acquired a new position in Brookfield Business Partners in the second quarter worth approximately $3,373,000. Finally, Alberta Investment Management Corp bought a new position in shares of Brookfield Business Partners in the third quarter valued at $3,392,000. 85.04% of the stock is owned by institutional investors and hedge funds.

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.