BMO Capital Markets Forecasts Strong Price Appreciation for Brookfield Business Partners (NYSE:BBU) Stock

Brookfield Business Partners (NYSE:BBU - Free Report) had its price target lifted by BMO Capital Markets from $32.00 to $34.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an outperform rating on the business services provider's stock.

Brookfield Business Partners Stock Performance

Shares of NYSE:BBU traded down $0.44 during trading on Friday, hitting $22.10. The stock had a trading volume of 24,275 shares, compared to its average volume of 15,846. The stock has a 50-day simple moving average of $24.04 and a two-hundred day simple moving average of $22.00. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 2.73 and a beta of 1.50. Brookfield Business Partners has a 12-month low of $16.85 and a 12-month high of $26.75. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 2.12.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The business services provider reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.39. The firm had revenue of $9.23 billion during the quarter. Brookfield Business Partners had a return on equity of 30.68% and a net margin of 11.77%. During the same quarter in the prior year, the firm earned $1.33 EPS. On average, equities research analysts expect that Brookfield Business Partners will post 5.43 earnings per share for the current fiscal year.

Brookfield Business Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were paid a dividend of $0.063 per share. This is an increase from Brookfield Business Partners's previous quarterly dividend of $0.06. This represents a $0.25 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, November 29th. Brookfield Business Partners's dividend payout ratio is presently 3.09%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners during the third quarter worth $45,000. Bank of New York Mellon Corp purchased a new stake in shares of Brookfield Business Partners in the second quarter valued at about $307,000. Gold Investment Management Ltd. increased its stake in shares of Brookfield Business Partners by 7.4% during the third quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock worth $739,000 after acquiring an additional 2,169 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Brookfield Business Partners by 1.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock worth $770,000 after purchasing an additional 608 shares in the last quarter. Finally, AYAL Capital Advisors Ltd lifted its position in Brookfield Business Partners by 97.4% in the second quarter. AYAL Capital Advisors Ltd now owns 45,000 shares of the business services provider's stock valued at $848,000 after purchasing an additional 22,200 shares during the period. 85.04% of the stock is owned by institutional investors and hedge funds.

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.