Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) PT at $29.67

Brookfield Business Partners L.P. (NYSE:BBU) has received an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $29.67.

A number of equities analysts have commented on the company. National Bankshares lifted their price target on Brookfield Business Partners from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. TheStreet lowered Brookfield Business Partners from a “c” rating to a “d+” rating in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price target on Brookfield Business Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Desjardins boosted their target price on Brookfield Business Partners from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Finally, Scotiabank upped their price target on Brookfield Business Partners from $26.50 to $28.00 and gave the company a “sector outperform” rating in a report on Monday, February 5th.

Brookfield Business Partners Stock Down 1.5 %

Shares of NYSE BBU opened at $19.42 on Monday. Brookfield Business Partners has a 52 week low of $12.22 and a 52 week high of $23.75. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $18.76. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 2.22. The company has a market cap of $1.44 billion, a P/E ratio of 2.99 and a beta of 1.41.

Brookfield Business Partners (NYSE:BBU) last issued its quarterly earnings results on Friday, February 2nd. The business services provider reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $5.67. The firm had revenue of $13.41 billion during the quarter. Brookfield Business Partners had a return on equity of 21.74% and a net margin of 6.86%. During the same quarter last year, the business posted $1.49 EPS. Research analysts anticipate that Brookfield Business Partners will post 3.95 earnings per share for the current fiscal year.

Brookfield Business Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 29th were issued a $0.0625 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.29%. Brookfield Business Partners’s payout ratio is 3.85%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SNC acquired a new stake in shares of Brookfield Business Partners in the 2nd quarter worth $40,000. UBS Group AG increased its stake in Brookfield Business Partners by 31.5% during the 1st quarter. UBS Group AG now owns 6,133 shares of the business services provider’s stock worth $189,000 after buying an additional 1,468 shares in the last quarter. Bank of America Corp DE increased its stake in Brookfield Business Partners by 365.7% during the 1st quarter. Bank of America Corp DE now owns 8,163 shares of the business services provider’s stock worth $250,000 after buying an additional 6,410 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Brookfield Business Partners during the 2nd quarter worth approximately $323,000. Finally, Hsbc Holdings PLC purchased a new stake in Brookfield Business Partners during the 3rd quarter worth approximately $476,000. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

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.