BMO Capital Markets Raises Brookfield Business Partners (NYSE:BBU) Price Target to $31.00

Brookfield Business Partners (NYSE:BBU) had its price target upped by BMO Capital Markets from $30.00 to $31.00 in a research report released on Monday, Marketbeat.com reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

A number of other equities research analysts have also weighed in on BBU. National Bankshares boosted their target price on Brookfield Business Partners from $33.00 to $34.00 and gave the company an outperform rating in a research note on Monday, February 5th. Desjardins upped their price objective on Brookfield Business Partners from $31.00 to $32.00 and gave the company a buy rating in a research report on Monday, February 5th. TheStreet cut Brookfield Business Partners from a c rating to a d+ rating in a research report on Wednesday, March 13th. Finally, Scotiabank increased their price target on Brookfield Business Partners from $26.50 to $28.00 and gave the company a sector outperform rating in a report on Monday, February 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of Buy and a consensus price target of $30.33.

Brookfield Business Partners Trading Up 2.7 %

Shares of BBU stock opened at $19.63 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.04 and a debt-to-equity ratio of 2.22. The business has a 50-day moving average price of $20.47 and a two-hundred day moving average price of $19.35. Brookfield Business Partners has a 12-month low of $12.22 and a 12-month high of $23.75. The firm has a market cap of $1.46 billion, a P/E ratio of 3.08 and a beta of 1.44.

Brookfield Business Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Friday, May 31st. Brookfield Business Partners’s payout ratio is 3.92%.

Hedge Funds Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently bought and sold shares of BBU. Principal Financial Group Inc. increased its holdings in shares of Brookfield Business Partners by 35.7% during the 1st quarter. Principal Financial Group Inc. now owns 88,434 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 23,258 shares in the last quarter. Triasima Portfolio Management inc. purchased a new position in shares of Brookfield Business Partners in the first quarter valued at approximately $1,405,000. Partners Value Investments L.P. lifted its holdings in Brookfield Business Partners by 0.7% in the 4th quarter. Partners Value Investments L.P. now owns 2,941,062 shares of the business services provider’s stock valued at $60,527,000 after purchasing an additional 19,061 shares in the last quarter. K2 Principal Fund L.P. purchased a new stake in Brookfield Business Partners during the 4th quarter valued at about $2,033,000. Finally, Gold Investment Management Ltd. purchased a new stake in Brookfield Business Partners during the 4th quarter valued at about $618,000. 85.04% of the stock is owned by hedge funds and other 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.