Brookfield Business Partners (NYSE:BBU) Given a $39.00 Price Target by Scotiabank Analysts

Scotiabank set a $39.00 price target on Brookfield Business Partners (NYSE:BBU) in a research report report published on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the business services provider’s stock.

A number of other analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Brookfield Business Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research downgraded shares of Brookfield Business Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday. Desjardins raised their price objective on shares of Brookfield Business Partners from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Brookfield Business Partners from $35.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday. Finally, National Bankshares raised their price objective on shares of Brookfield Business Partners from $33.00 to $39.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.83.

Brookfield Business Partners Stock Performance

Shares of BBU stock opened at $32.92 on Thursday. The firm has a 50-day moving average of $27.23 and a 200-day moving average of $25.06. The company has a market cap of $2.92 billion, a P/E ratio of -253.23 and a beta of 1.38. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.67 and a quick ratio of 1.36. Brookfield Business Partners has a one year low of $18.63 and a one year high of $33.19.

Brookfield Business Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Friday, August 29th were given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, August 29th. Brookfield Business Partners’s dividend payout ratio (DPR) is currently -192.31%.

Hedge Funds Weigh In On Brookfield Business Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BROOKFIELD Corp ON boosted its position in Brookfield Business Partners by 72.5% during the first quarter. BROOKFIELD Corp ON now owns 44,152,007 shares of the business services provider’s stock worth $1,035,806,000 after purchasing an additional 18,549,503 shares during the period. TD Waterhouse Canada Inc. boosted its position in Brookfield Business Partners by 1.4% during the second quarter. TD Waterhouse Canada Inc. now owns 1,102,273 shares of the business services provider’s stock worth $28,344,000 after purchasing an additional 14,981 shares during the period. AGF Management Ltd. boosted its position in shares of Brookfield Business Partners by 58.2% in the first quarter. AGF Management Ltd. now owns 342,906 shares of the business services provider’s stock valued at $8,030,000 after acquiring an additional 126,189 shares during the period. Triasima Portfolio Management inc. bought a new position in shares of Brookfield Business Partners in the first quarter valued at approximately $3,997,000. Finally, TD Asset Management Inc boosted its position in shares of Brookfield Business Partners by 2.7% in the first quarter. TD Asset Management Inc now owns 154,820 shares of the business services provider’s stock valued at $3,625,000 after acquiring an additional 4,032 shares during the period. 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.