Brookfield Business Partners L.P. (NYSE:BBU – Get Free Report) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Shareholders of record on Thursday, February 29th will be given a dividend of 0.0625 per share by the business services provider on Thursday, March 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, February 28th.
Brookfield Business Partners has a dividend payout ratio of -4.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brookfield Business Partners to earn $4.68 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 5.3%.
Brookfield Business Partners Price Performance
Shares of Brookfield Business Partners stock opened at $22.97 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.79 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $1.71 billion, a PE ratio of 3.54 and a beta of 1.44. The business’s 50-day moving average price is $19.71 and its 200-day moving average price is $17.03. Brookfield Business Partners has a 12 month low of $12.22 and a 12 month high of $23.45.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on BBU shares. Scotiabank raised their price target on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a “sector outperform” rating in a research report on Monday. TheStreet upgraded Brookfield Business Partners from a “d” rating to a “c” rating in a research report on Friday. BMO Capital Markets raised their price target on Brookfield Business Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. National Bankshares raised their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Desjardins raised their price target on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $29.67.
Insiders Place Their Bets
In other news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total value of $8,630,129.20. Following the completion of the transaction, the insider now owns 23,352,826 shares in the company, valued at approximately $51,376,217.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 5,732,783 shares of company stock worth $12,598,396.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SNC bought a new stake in shares of Brookfield Business Partners in the 2nd quarter worth $40,000. UBS Group AG increased 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 worth $189,000 after purchasing an additional 1,468 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Brookfield Business Partners by 365.7% in the 1st quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock worth $250,000 after purchasing an additional 6,410 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Brookfield Business Partners in the 2nd quarter worth $323,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Brookfield Business Partners by 18.3% in the 2nd quarter. Renaissance Technologies LLC now owns 38,700 shares of the business services provider’s stock worth $820,000 after purchasing an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.
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.
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