Scotiabank Raises Brookfield Business Partners (NYSE:BBU) Price Target to $33.00

Brookfield Business Partners (NYSE:BBU - Free Report) had its price objective increased by Scotiabank from $32.00 to $33.00 in a research note released on Monday morning,Benzinga reports. They currently have a sector outperform rating on the business services provider's stock.

Separately, BMO Capital Markets raised their target price on shares of Brookfield Business Partners from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $32.33.

Brookfield Business Partners Stock Performance

Shares of Brookfield Business Partners stock traded up $0.18 during trading on Monday, hitting $22.54. 11,708 shares of the stock were exchanged, compared to its average volume of 18,942. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.95 and a current ratio of 1.17. Brookfield Business Partners has a 12 month low of $16.85 and a 12 month high of $26.75. The stock's fifty day moving average is $23.02 and its 200 day moving average is $22.38. The stock has a market cap of $1.67 billion, a PE ratio of -46.00 and a beta of 1.50.

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

Brookfield Business Partners Cuts Dividend

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

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in 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. Tandem Capital Management Corp ADV raised its stake in shares of Brookfield Business Partners by 24.5% during the third quarter. Tandem Capital Management Corp ADV now owns 40,281 shares of the business services provider's stock valued at $890,000 after acquiring an additional 7,939 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Brookfield Business Partners in the third quarter valued at about $45,000. Principal Financial Group Inc. increased its position in shares of Brookfield Business Partners by 29.9% during the third quarter. Principal Financial Group Inc. now owns 117,189 shares of the business services provider's stock worth $2,731,000 after buying an additional 26,947 shares during the period. Finally, Gold Investment Management Ltd. boosted its position in shares of 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 in the last quarter. 85.04% of the stock is owned by institutional investors.

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.