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

Brookfield Business Partners (NYSE:BBU) had its price target raised by BMO Capital Markets from $30.00 to $31.00 in a report published on Monday morning, 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 recently issued reports on the stock. Scotiabank upped their price target on shares of Brookfield Business Partners from $26.50 to $28.00 and gave the company a sector outperform rating in a report on Monday, February 5th. TheStreet lowered Brookfield Business Partners from a c rating to a d+ rating in a report on Wednesday, March 13th. National Bankshares raised their price objective on shares of Brookfield Business Partners from $33.00 to $34.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Finally, Desjardins upped their target price on shares of Brookfield Business Partners from $31.00 to $32.00 and gave the company a buy rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $30.33.

Brookfield Business Partners Price Performance

Shares of Brookfield Business Partners stock opened at $19.17 on Monday. Brookfield Business Partners has a 1-year low of $12.22 and a 1-year high of $23.75. The firm has a fifty day simple moving average of $20.51 and a 200-day simple moving average of $19.35. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 2.22. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 3.00 and a beta of 1.44.

Brookfield Business Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 31st will be given a $0.0625 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.25 annualized dividend and a yield of 1.30%. Brookfield Business Partners’s dividend payout ratio (DPR) is currently 3.92%.

Institutional Investors Weigh In On Brookfield Business Partners

Several institutional investors and hedge funds have recently bought and sold shares of BBU. Gold Investment Management Ltd. acquired a new stake in shares of Brookfield Business Partners during the 4th quarter valued at about $618,000. Hsbc Holdings PLC acquired a new stake in Brookfield Business Partners during the third quarter valued at approximately $476,000. Russell Investments Group Ltd. grew its stake in shares of Brookfield Business Partners by 44.1% in the 4th quarter. Russell Investments Group Ltd. now owns 50,102 shares of the business services provider’s stock valued at $1,039,000 after purchasing an additional 15,344 shares during the period. Montrusco Bolton Investments Inc. raised its holdings in shares of Brookfield Business Partners by 54.3% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 59,354 shares of the business services provider’s stock worth $1,231,000 after buying an additional 20,891 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new position in shares of Brookfield Business Partners during the 1st quarter worth approximately $1,405,000. Institutional investors 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.