Analysts Set Brookfield Business Partners L.P. (NYSE:BBU) Target Price at $32.60

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) has been given a consensus recommendation of "Buy" by the four brokerages that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $32.33.

BBU has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Brookfield Business Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Monday. BMO Capital Markets upped their price target on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Finally, Scotiabank upped their price target on Brookfield Business Partners from $32.00 to $33.00 and gave the company a "sector outperform" rating in a research note on Monday.

Brookfield Business Partners Trading Up 0.8 %

BBU traded up $0.18 during trading on Tuesday, hitting $22.54. 11,708 shares of the company's stock were exchanged, compared to its average volume of 18,938. The firm has a market cap of $1.67 billion, a P/E ratio of -46.00 and a beta of 1.50. The stock has a 50 day moving average price of $23.02 and a 200 day moving average price of $22.38. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 2.12. Brookfield Business Partners has a 1 year low of $16.85 and a 1 year high of $26.75.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its earnings results on Friday, January 31st. The business services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $1.33. Brookfield Business Partners had a net margin of 2.20% and a return on equity of 5.00%. As a group, analysts expect that Brookfield Business Partners will post 5.26 EPS for the current fiscal year.

Brookfield Business Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, February 28th will be paid a dividend of $0.0625 per share. The ex-dividend date is Friday, February 28th. This represents a $0.25 annualized dividend and a dividend yield of 1.11%. Brookfield Business Partners's dividend payout ratio is currently -51.02%.

Institutional Investors Weigh In On Brookfield Business Partners

Several large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Brookfield Business Partners by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,726 shares of the business services provider's stock valued at $770,000 after buying an additional 608 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Brookfield Business Partners by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 17,724 shares of the business services provider's stock valued at $415,000 after purchasing an additional 1,448 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in Brookfield Business Partners during the 3rd quarter valued at $45,000. Gold Investment Management Ltd. lifted its holdings in Brookfield Business Partners by 7.4% during the 3rd quarter. Gold Investment Management Ltd. now owns 31,501 shares of the business services provider's stock valued at $739,000 after purchasing an additional 2,169 shares during the last quarter. Finally, Tandem Capital Management Corp ADV increased its position in Brookfield Business Partners by 24.5% during the 3rd quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider's stock worth $890,000 after buying an additional 7,939 shares during the period. Institutional investors and hedge funds own 85.04% of the company's stock.

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.