Brookfield Business Partners L.P. Limited Partnership Units (BBU) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Brookfield Business Partners L.P. Limited Partnership Units (NYSE:BBU) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The brokerage issued a sector perform rating and a $41.00 target price on the business services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Citigroup started coverage on Brookfield Business Partners L.P. Limited Partnership Units in a report on Wednesday, December 20th. They issued a buy rating and a $39.00 target price on the stock. TheStreet cut Brookfield Business Partners L.P. Limited Partnership Units from a c rating to a d rating in a report on Monday, November 6th. Scotiabank lifted their target price on Brookfield Business Partners L.P. Limited Partnership Units from $33.50 to $37.00 and gave the stock an outperform rating in a report on Friday, January 5th. Finally, Credit Suisse Group lifted their target price on Brookfield Business Partners L.P. Limited Partnership Units to $3.15 and gave the stock an outperform rating in a report on Friday, January 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $32.63.

Shares of Brookfield Business Partners L.P. Limited Partnership Units (NYSE BBU) opened at $38.50 on Thursday. Brookfield Business Partners L.P. Limited Partnership Units has a twelve month low of $23.82 and a twelve month high of $39.00. The company has a current ratio of 0.87, a quick ratio of 0.70 and a debt-to-equity ratio of 0.45.

Brookfield Business Partners L.P. Limited Partnership Units (NYSE:BBU) last issued its earnings results on Monday, November 6th. The business services provider reported $0.08 earnings per share (EPS) for the quarter. Brookfield Business Partners L.P. Limited Partnership Units had a return on equity of 2.05% and a net margin of 1.30%.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, November 30th were given a $0.0625 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $0.25 annualized dividend and a yield of 0.65%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC grew its position in Brookfield Business Partners L.P. Limited Partnership Units by 181.8% in the fourth quarter. Acadian Asset Management LLC now owns 550,284 shares of the business services provider’s stock worth $19,010,000 after acquiring an additional 355,026 shares in the last quarter. Bank of Montreal Can grew its position in Brookfield Business Partners L.P. Limited Partnership Units by 2.8% in the fourth quarter. Bank of Montreal Can now owns 1,218,750 shares of the business services provider’s stock worth $42,072,000 after acquiring an additional 33,247 shares in the last quarter. Mackenzie Financial Corp grew its position in Brookfield Business Partners L.P. Limited Partnership Units by 7.9% in the third quarter. Mackenzie Financial Corp now owns 60,280 shares of the business services provider’s stock worth $1,787,000 after acquiring an additional 4,400 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in Brookfield Business Partners L.P. Limited Partnership Units in the third quarter worth about $113,000. Finally, Hillsdale Investment Management Inc. grew its position in Brookfield Business Partners L.P. Limited Partnership Units by 3.9% in the third quarter. Hillsdale Investment Management Inc. now owns 161,600 shares of the business services provider’s stock worth $4,796,000 after acquiring an additional 6,100 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

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Brookfield Business Partners L.P. Limited Partnership Units Company Profile

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