Brookfield Business Partners L.P. (NYSE:BBU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Brookfield Business Partners L.P. (NYSE:BBU) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $37.00.

A number of equities research analysts have issued reports on the stock. Zacks Research raised shares of Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Royal Bank Of Canada upped their target price on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, September 29th. National Bankshares increased their price target on Brookfield Business Partners from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Business Partners in a research report on Wednesday. Finally, Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the company an “outperform” rating in a research note on Thursday, October 2nd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its stake 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 worth $22,849,000 after purchasing an additional 297,180 shares during the last quarter. JPMorgan Chase & Co. increased its position in Brookfield Business Partners by 796.3% in 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 during the last quarter. Credit Industriel ET Commercial bought a new stake in shares of Brookfield Business Partners in the third quarter valued at $4,905,000. Legal & General Group Plc bought a new stake in shares of Brookfield Business Partners in the second quarter valued at $3,373,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Brookfield Business Partners during the 3rd quarter valued at $3,392,000. 85.04% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Business Partners Stock Performance

NYSE BBU opened at $35.15 on Friday. The company has a fifty day moving average price of $34.96 and a 200-day moving average price of $31.24. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -19.53 and a beta of 1.31. The company has a debt-to-equity ratio of 2.84, a current ratio of 1.71 and a quick ratio of 1.41. Brookfield Business Partners has a 1 year low of $18.63 and a 1 year high of $37.38.

Brookfield Business Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, November 28th were given a dividend of $0.0625 per share. The ex-dividend date was Friday, November 28th. This represents a $0.25 annualized dividend and a yield of 0.7%. Brookfield Business Partners’s dividend payout ratio is presently -13.89%.

About Brookfield Business Partners

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.