Brookfield Business Partners (NYSE:BBU) Reaches New 1-Year High at $23.78

Brookfield Business Partners L.P. (NYSE:BBU - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $23.78 and last traded at $23.46, with a volume of 2814 shares. The stock had previously closed at $23.47.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated an "outperform" rating and issued a $32.00 price target on shares of Brookfield Business Partners in a research note on Monday, August 5th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $31.40.

Brookfield Business Partners Stock Performance

The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $1.78 billion, a P/E ratio of 3.74 and a beta of 1.45. The company's 50 day moving average is $20.51 and its 200 day moving average is $19.93.

Brookfield Business Partners (NYSE:BBU - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The business services provider reported ($0.09) EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.95). Brookfield Business Partners had a net margin of 7.34% and a return on equity of 21.76%. The firm had revenue of $11.95 billion during the quarter. During the same period last year, the firm earned $0.85 EPS. As a group, equities analysts predict that Brookfield Business Partners L.P. will post 4.52 earnings per share for the current fiscal year.

Brookfield Business Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, August 30th. Brookfield Business Partners's dividend payout ratio is currently 3.92%.

Hedge Funds Weigh In On Brookfield Business Partners

Large investors have recently modified their holdings of the business. Partners Value Investments L.P. raised its position in shares of Brookfield Business Partners by 0.7% during the fourth quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider's stock worth $60,527,000 after acquiring an additional 19,061 shares during the last quarter. Bank of Montreal Can increased its position in Brookfield Business Partners by 3.1% during the 2nd quarter. Bank of Montreal Can now owns 767,726 shares of the business services provider's stock valued at $15,036,000 after purchasing an additional 22,886 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield Business Partners by 12.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 681,562 shares of the business services provider's stock worth $12,910,000 after purchasing an additional 77,017 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Brookfield Business Partners by 4.1% in the 4th quarter. TD Asset Management Inc now owns 160,426 shares of the business services provider's stock worth $3,328,000 after purchasing an additional 6,290 shares during the period. Finally, K2 Principal Fund L.P. boosted its stake in shares of Brookfield Business Partners by 58.3% in the 1st quarter. K2 Principal Fund L.P. now owns 156,353 shares of the business services provider's stock valued at $3,455,000 after purchasing an additional 57,553 shares during the last quarter. Institutional investors own 85.04% of the company's stock.

Brookfield Business Partners Company Profile

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.