BMO Capital Markets Raises Brookfield Business Partners (NYSE:BBU) Price Target to $31.00

Brookfield Business Partners (NYSE:BBU) had its target price hoisted by BMO Capital Markets from $30.00 to $31.00 in a report released on Monday, Marketbeat reports. The firm currently has an outperform rating on the business services provider’s stock.

BBU has been the subject of a number of other research reports. Scotiabank upped their target price on Brookfield Business Partners from $26.50 to $28.00 and gave the stock a sector outperform rating in a research report on Monday, February 5th. Desjardins increased their price objective on Brookfield Business Partners from $31.00 to $32.00 and gave the company a buy rating in a research report on Monday, February 5th. TheStreet cut Brookfield Business Partners from a c rating to a d+ rating in a research report on Wednesday, March 13th. Finally, National Bankshares increased their price objective on Brookfield Business Partners from $33.00 to $34.00 and gave the company an outperform rating in a research report on Monday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Brookfield Business Partners currently has a consensus rating of Buy and an average price target of $30.33.

Brookfield Business Partners Trading Up 2.7 %

NYSE:BBU opened at $19.63 on Monday. The stock’s 50 day moving average price is $20.47 and its 200 day moving average price is $19.35. Brookfield Business Partners has a 52 week low of $12.22 and a 52 week high of $23.75. The company has a market capitalization of $1.46 billion, a P/E ratio of 3.08 and a beta of 1.44. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.78 and a current ratio of 1.04.

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.0625 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.25 annualized dividend and a yield of 1.27%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently 3.92%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BBU. Principal Financial Group Inc. lifted its position in Brookfield Business Partners by 77.9% in the third quarter. Principal Financial Group Inc. now owns 65,176 shares of the business services provider’s stock worth $991,000 after purchasing an additional 28,541 shares during the period. Hsbc Holdings PLC bought a new position in Brookfield Business Partners in the third quarter worth $476,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Brookfield Business Partners by 4.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 166,300 shares of the business services provider’s stock worth $2,525,000 after purchasing an additional 6,700 shares during the period. Scotia Capital Inc. lifted its position in Brookfield Business Partners by 19.3% in the third quarter. Scotia Capital Inc. now owns 81,371 shares of the business services provider’s stock worth $1,229,000 after purchasing an additional 13,155 shares during the period. Finally, Royal Bank of Canada raised its stake in Brookfield Business Partners by 1.5% during the third quarter. Royal Bank of Canada now owns 8,779,849 shares of the business services provider’s stock worth $133,455,000 after acquiring an additional 128,970 shares in the last quarter. 85.04% of the stock is owned by institutional investors.

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.