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

Shares of Brookfield Business Partners L.P. (NYSE:BBU) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $36.50.

A number of analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Brookfield Business Partners from $35.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Zacks Research raised Brookfield Business Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Business Partners in a research note on Wednesday, October 8th. Scotiabank set a $39.00 price objective on Brookfield Business Partners and gave the company an “outperform” rating in a report on Thursday, October 2nd. Finally, National Bankshares boosted their target price on shares of Brookfield Business Partners from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, November 7th.

Institutional Investors Weigh In On Brookfield Business Partners

Several hedge funds have recently bought and sold shares of BBU. Legal & General Group Plc increased its position in Brookfield Business Partners by 0.6% during the third quarter. Legal & General Group Plc now owns 130,620 shares of the business services provider’s stock worth $4,285,000 after buying an additional 726 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Brookfield Business Partners by 30,100.0% during the 2nd quarter. Bank of America Corp DE now owns 1,208 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,204 shares during the period. Gold Investment Management Ltd. boosted its stake in shares of Brookfield Business Partners by 5.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 44,270 shares of the business services provider’s stock worth $1,452,000 after acquiring an additional 2,276 shares during the period. Federation des caisses Desjardins du Quebec increased its holdings in shares of Brookfield Business Partners by 6.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 104,106 shares of the business services provider’s stock worth $2,439,000 after acquiring an additional 6,090 shares during the last quarter. Finally, Guardian Partners Inc. bought a new stake in Brookfield Business Partners in the 3rd quarter valued at $221,000. 85.04% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Business Partners Stock Up 1.9%

Brookfield Business Partners stock opened at $36.74 on Tuesday. The company has a market cap of $3.23 billion, a P/E ratio of -20.41 and a beta of 1.32. Brookfield Business Partners has a 1-year low of $18.63 and a 1-year high of $36.90. The company has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $29.90. The company has a current ratio of 1.71, a quick ratio of 1.41 and a debt-to-equity ratio of 2.84.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.0625 per share. The ex-dividend date is Friday, November 28th. This represents a $0.25 annualized dividend and a dividend yield of 0.7%. Brookfield Business Partners’s payout ratio is currently -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.